Under-recoveries or the losses made by public sector oil marketing companies for selling PDS kerosene and domestic LPG at subsidised rates dropped to ₹ 13.32 a litre and ₹ 161.81 per cylinder, respectively on February 1, 2015.
On January 1, 2015 the under-recoveries were at ₹ 19.46 a litre for PDS kerosene and ₹ 235.91 a cylinder for domestic LPG.
The drop in under-recoveries was due to the falling crude oil prices. The Indian crude basket or the price at which Indian refiners source crude oil reached $46.73 per barrel on January 30, 2015.
“The under-recoveries from April to December 2014-15 have been ₹ 67,091 crore. The figure was ₹ 1,39,869 crore for full year in 2013-14,” an official statement said.