Press launch on MS and HSD costs

Indian Oil Organization Ltd. has made the decision to impact the following changes in MS and HSD retail store costs w.e.f late night of 15th/16th February'13:


    Cost level of HSD to be enhanced way up by Rs 0.45/litre (excluding VAT)

    Cost level of MS to be enhanced way up by Rs 1.50/litre (excluding VAT).


MS costs were last enhanced downwards by Rs. 0.25/litre/litre (excl VAT) on Eighteenth January'13. Since last price modify the worldwide oil costs have regularly proven an uptrend. Raw oil price has enhanced from $109.08/bbl to $ 113.24/bbl, while International MS costs have enhanced from $119.59/bbl to $128.57/bbl. The INR-USD return amount has however enhanced from Rs.54.78 to Rs.53.43 per USD during the interval. The Organization has been forced to complete on the improve in MS costs to customers as the Organization has already experienced failures for selling of MS so far and styles in worldwide oil industry as well as INR-USD return amount indicate ongoing durability. Actually, currently MS costs are hanging around $132.80/bbl. The styles of worldwide Diesel Engine Oil costs and INR-USD return amount shall be assessed and the same shall be shown later on price changes.

HSD costs were last enhanced way up by Rs.0.45/litre (excl VAT) on Eighteenth Jan'13. Consequently, the under-recovery on HSD had correspondingly decreased to Rs.9.15/litre.  However, since the last price modification, worldwide HSD costs have also proven ongoing uptrend.  As a  outcome, under-recovery has gone up to Rs.10.72/litre which now,  with present way up modification of HSD costs by  Rs. 0.45/litre, shall take a position decreased to Rs. 10.27/litre.

In inclusion to reduction for selling of HSD, OMCs are also struggling under-recovery for selling of SKO (PDS) of Rs.31.60/litre & LPG (Dom) of Rs.481.00/cyl. Estimated under-recovery of the Organization on three delicate items is predicted to mix Rs.86000 crore and of the Market beyond Rs.163000 crore during present season.

 

IndianOil records 12% development in revenues, content benefit of Rs. 3332 crore for Q3, FY 2012-13

Native indian Oil Organization has authorized a benefit of Rs.3332 crore for the third one fourth of the economical season 2012-13 as in comparison to a benefit of Rs. 2488 crore for the corresponding one fourth of the past economical year; mainly due to launch of Govt support to the track of Rs.13475 crore partially paying under recoveries on sale of three delicate products i.e. Diesel Jet Fuel, PDS Oil and LPG (Domestic).

The unaudited economical results of the Organization were taken on record at the conference of the Board of Administrators here today. Native indian Oil’s revenues for the third one fourth of the current economical season increased by 12% to Rs.107686 crore from Rs.96006 crore during the corresponding one fourth last season.

The Organization has published a lack of Rs.9508 crore for the first nine months of FY 2012-13 as in comparison to a lack of Rs.8716 crore for the same interval of the season before mainly due to unmet under recoveries due to non understanding of market related prices for Diesel fuel, PDS Oil Industry and LPG (Domestic), which still appears at Rs.13227 crore for the interval April-December 2012.

Mr. R.S. Butola, Chair, IndianOil, said, “IndianOil’s revenue amounts such as exports increased by 0.419 Thousand Loads to 19.706 Thousand Loads during the third one fourth of FY 2012-13 as as opposed to corresponding one fourth of the past economical season. The every quarter improving throughput went up partially by 0.042 Thousand Loads to 14.208 Thousand Loads as as opposed to corresponding one fourth of the past economical season. The throughput of the Corporation’s across the country sewerlines system went up by 1.111 Thousand Loads to 19.471 Thousand Loads as as opposed to corresponding one fourth of the season before.”