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Daily Crude oil price of Indian Basket was US$ 46.73/bbl on 30.01.2015

(02 Feb 2015)

The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products during the last month of January 2015. In the case of PDS Kerosene and Domestic LPG, the under-recoveries for the month of February 2015 will be Rs 13.32 per litre (Rs 19.46 per litre in last month) and Rs 161.81 per cylinder (Rs 235.91 per cylinder in last month) respectively.

 Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs)



Under-recoveries effective 01.02.2015

( Previous fortnight effective 01.01 2015)

PDS Kerosene*


                           13.32              (19.46)    

Domestic LPG*


                         161.81^            (235.91) 

*Additionally, a subsidy of Rs 0.82/Litre on PDS Kerosene is provided by the Government.

^It comprises of both Under-recovery & Fiscal Subsidy. Under DBTL, customer is charged full price inclusive of both under-recovery & Fiscal Subsidy.

The under-recoveries from April to December 2014-15 has been Rs 67,091 crore. The figure was Rs 1,39,869 crore for full year in the 2013-14.

Regarding daily international crude oil price of Indian Basket as published today, the price was US$ 46.73 per barrel (bbl) on 30.01.2015 as against US$ 46.28 per bbl on 29.01.2015. In rupee terms, the price of Indian Basket increased to Rs 2886.04 per bbl on 30.01.2015 as compared to Rs 2846.22 per bbl on 29.01.2015. Rupee closed weaker at Rs 61.76 per US$ on 30.01.2015 as against Rs 61.50 per US$ on 29.01.2015. 

The table below gives details in this regard     



Price on Jan 30, 2015 (Previous trading day i.e. 29.01.2015)

Pricing Fortnight for 01.02.2015

(Jan 14 to Jan 28, 2015)

Crude Oil (Indian Basket)


46.73               (46.28)



2886.04           (2846.22)


Exchange Rate


61.76               (61.50)



News Source : PIB