News Release Details

MS price change
New Delhi   15-Nov-2012
It has been decided to revise the MS prices downward by Rs. 0.95 per litre (excluding State levies) w.e.f 16th Nov12.

Presently, the international oil prices are relatively stable. However, there has been significant volatility in the INR-USD exchange rate and is currently very weak with uncertainty about its future direction. The trends in the international oil market and INR-USD exchange rate are being closely monitored and the same shall be reflected in future price changes.

It may be noted that Oil Marketing Companies are bearing the burden of a loss of over Rs 2000 crore approximately on sale of MS during April-September12 due to inability to change retail selling prices to the desired extent in line with market conditions.

As is known, in addition to loss on sale of MS, OMCs are also suffering under-recovery on sale of three sensitive petroleum products, namely HSD (Rs.9.84/litre), SKO(PDS) (Rs.31.30/litre) & LPG (Dom) (Rs.478.50/cyl). Projected under-recovery on these products is expected to cross Rs.160000 crore for the current year.

Existing and Revised selling prices for metros are given below:

 

 

New Delhi

Mumbai

Chennai

Kolkata

Hyderabad

Bengaluru

Proposed RSP

' /litre

67.24

73.53

70.57

74.55

73.73

74.22

Current RSP

' /litre

68.19

74.73

71.77

75.74

74.98

75.47

Decrease

' /litre

(0.95)

(1.20)

(1.20)

(1.19)

(1.25)

(1.25)