Native indian Oil Organization Ltd. has made the choice to decrease the retail store costs of Fuel w.e.f late night of 15th/16th March'13 by Rs. 2.00/ liter (excluding VAT).
The Prices of Jet Fuel were improved by Rs.1.40/litre (excl VAT) w.e.f 2nd March'13. Since last cost modify, worldwide costs of raw oil have slid from USD 112.73/bbl to USD 107.41/bbl resulting in resulting drop in worldwide costs of MS. However, Rupee has decreased partially. Following this pattern, it has been made the choice to successfully transfer the advantage to the clients and accordingly the aforesaid decrease in the retail store cost level of Fuel is being impacted. It may be mentioned that the Organization has already missing over Rs. 500 Crore (OMCs Rs. 1130 Crore) for selling of petrol so far during the present economical season.
In inclusion to failures for selling of petrol, OMCs are struggling under-recovery for selling of HSD (Retail) of Rs. 8.64, SKO (PDS) of Rs.33.43/litre & LPG (Dom) of Rs.439.00/cyl. Estimated under-recovery of the Organization on three delicate items is predicted to be around Rs.86500 crore and of the Market around Rs.163000 crore during present season.
The activity in worldwide Oil Price and INR-USD return amount is being supervised and choice on upcoming cost changes shall be taken accordingly.
The information of current and Improved costs of Fuel for cities are given below:
New Delhi
Mumbai
Chennai
Kolkata
Hyderabad
Bengaluru
Proposed RSP Rs/litre
68.34
75.14
71.41
75.84
74.59
75.26
Current RSP Rs/litre
70.74
77.66
73.95
78.34
77.21
77.88
Decrease Rs/litre
-2.40
-2.52
-2.54
-2.50
-2.62
-2.62
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