MS costs have been decontrolled by the Government of Indian w.e.f 25.06.10 and since then the Oil Promotion Organizations (OMCs) are totally able to fix the cost range of fuel. It has been made the decision by Native indian Oil Organization to improve MS costs by Rs. 0.70/litre (excluding condition levies) w.e.f late night of 23-24 September, 2012.
The said modification has been required due to improving worldwide oil costs and activity in INR-USD return amount. The normal cost of Native indian bag of raw for the appropriate costs interval regarded is $101.28/bbl while International MS cost is $111.59/bbl. The Rupee-USD return amount is around Rs. 55.36/USD. At these stages, IOC is running into failures of about Rs. 1.41/litre on MS revenue in the household industry. However, as the cost activity is quite unpredictable, it has been made the decision that an improve of Rs. 0.70/litre (excluding condition levies) may be impacted at this point and the scenario seen for a while based on which a further perspective will be taken at an appropriate time.
During present financial, the Organization has already gathered failures of Rs. 1053 crore (Industry: Rs. 2323 crore) on MS revenue during the first two several weeks due to great worldwide oil costs, destruction in USD-INR return amount & lack of ability of OMCs to change MS costs to preferred stage. Moreover, HSD, SKO(PDS) and LPG (Dom) costs stay the same since May,2011 leading to present stage of under restoration of Rs. 10.01/litre on HSD, Rs. 27.20/litre on SKO(PDS) and Rs. 319/cylinder on LPG(Dom). At these stages, estimated under restoration of IOC during 2012-13 for these three items is Rs. 86000 crores (Industry - Rs. 160000 crores). In these conditions, the Organization is incapable to keep pressure of any further failures.
As a effect of the said modification, improve in cost range shall differ from Rs. 0.70/litre to Rs. 0.91/litre (including State levies) based on the State taxation. In the condition of Delhi, the cost improve will be Rs. 0.70/litre (impact of State tax shall be nil on the improve as per Delhi Government. VAT exception to this rule purchase old Sixteenth May 2012). The cost modification in other Declares will differ based on the specific prices of State VAT / Sales Tax.
Existing and Revised selling prices for metros are given below :-
The said modification has been required due to improving worldwide oil costs and activity in INR-USD return amount. The normal cost of Native indian bag of raw for the appropriate costs interval regarded is $101.28/bbl while International MS cost is $111.59/bbl. The Rupee-USD return amount is around Rs. 55.36/USD. At these stages, IOC is running into failures of about Rs. 1.41/litre on MS revenue in the household industry. However, as the cost activity is quite unpredictable, it has been made the decision that an improve of Rs. 0.70/litre (excluding condition levies) may be impacted at this point and the scenario seen for a while based on which a further perspective will be taken at an appropriate time.
During present financial, the Organization has already gathered failures of Rs. 1053 crore (Industry: Rs. 2323 crore) on MS revenue during the first two several weeks due to great worldwide oil costs, destruction in USD-INR return amount & lack of ability of OMCs to change MS costs to preferred stage. Moreover, HSD, SKO(PDS) and LPG (Dom) costs stay the same since May,2011 leading to present stage of under restoration of Rs. 10.01/litre on HSD, Rs. 27.20/litre on SKO(PDS) and Rs. 319/cylinder on LPG(Dom). At these stages, estimated under restoration of IOC during 2012-13 for these three items is Rs. 86000 crores (Industry - Rs. 160000 crores). In these conditions, the Organization is incapable to keep pressure of any further failures.
As a effect of the said modification, improve in cost range shall differ from Rs. 0.70/litre to Rs. 0.91/litre (including State levies) based on the State taxation. In the condition of Delhi, the cost improve will be Rs. 0.70/litre (impact of State tax shall be nil on the improve as per Delhi Government. VAT exception to this rule purchase old Sixteenth May 2012). The cost modification in other Declares will differ based on the specific prices of State VAT / Sales Tax.
Existing and Revised selling prices for metros are given below :-
| New Delhi | Mumbai | Chennai | Kolkata | Hyderabad | Bengaluru | ||
| Proposed RSP | Rs./litre |
68.48
|
74.23
|
73.16
|
73.61
|
75.80
|
77.30
|
| Current RSP | Rs./litre |
67.78
|
73.35
|
72.27
|
72.74
|
74.89
|
76.39
|
| Increase | Rs./litre |
0.70
|
0.88
|
0.89
|
0.87
|
0.91
|
0.91
|
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