NEW DELHI: Losses on diesel sales have climbed to Rs 10.48 per litre after international oil rates inched up, the Oil Ministry said today.
Under-recovery or revenue loss on diesel has risen to Rs 10.48 per litre from Rs 9.99 a litre in the first fortnight of December, an official statement said here.
This followed marginal increase in gas oil rates in the international markets and rupee value falling from Rs 61.78 to a US dollar to Rs 62.13.
Oil firms calculate the desired retail selling price of diesel on 1st and 16th of every month based on average international oil rate and the foreign exchange rate of the preceding fortnight.
"Oil marketing companies (OMCs), effective December 16, are now incurring combined daily under-recovery of about Rs 434 crore on the sale of diesel, PDS kerosene and domestic LPG. This is slightly more than Rs 429 crore daily under-recoveries during previous fortnight effective beginning December 1," the statement
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Under-recovery or revenue loss on diesel has risen to Rs 10.48 per litre from Rs 9.99 a litre in the first fortnight of December, an official statement said here.
This followed marginal increase in gas oil rates in the international markets and rupee value falling from Rs 61.78 to a US dollar to Rs 62.13.
Oil firms calculate the desired retail selling price of diesel on 1st and 16th of every month based on average international oil rate and the foreign exchange rate of the preceding fortnight.
"Oil marketing companies (OMCs), effective December 16, are now incurring combined daily under-recovery of about Rs 434 crore on the sale of diesel, PDS kerosene and domestic LPG. This is slightly more than Rs 429 crore daily under-recoveries during previous fortnight effective beginning December 1," the statement
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