The oil ministry on Monday said
the under-recovery, or losses, on diesel for the second fortnight effective February 16 has increased to Rs 10.27 per litre.
State oil marketing companies (OMCs) had
hiked diesel rates by 45 paise per litre on Friday in the second dose of a similar increase after the government partially deregulated the fuel last year.
For domestic LPG and kerosene, under-recoveries remain the same at Rs 481 per cylinder and Rs 31.60 per litre, respectively, for February 2013, as under-recoveries on these are calculated on a monthly basis.
"OMCs effective February 16, 2013, are incurring daily under-recovery of about Rs 454 crore on the sale of diesel, PDS kerosene and domestic LPG. This was Rs 400 crore per day for the previous fortnight," a statement from the oil ministry said.
According to the ministry, the under
recovery of Rs 10.27 for diesel for the second fortnight effective Saturday compares to Rs 9.22 per litre for the first fortnight of the month.
The Indian basket crude oil price as on the last trading day stood at $114.49 (Rs 6,181.32) per barrel.
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