IndianOil modifies MS (Petrol) Prices

Sept. 20, 2011 - PRLog -- Due to blend of unprecedented components, IndianOil has been guarded to modify the cost of MS (Petrol). The new charges will be productive from midnight today

The components producing in to the modification of the MS cost are boost in the   worldwide cost (FOB) of MS and devaluation of rupee. The FOB for MS was $119.41 per bbl in the last fortnight, which has gone up to 125.18 pr bbl, an boost of 4.8%. Similarly the Exchange rate has gone up from Rs. 45.67 / USD to Rs. 46.29 / USD .These components have produced in boost of under recovery on MS to Rs 2.61 per litre from Rs.0.41 per litre on 1st September 2011.

The influence due to exchange rate is Rs 0.48 and due to boost in International charges is Rs 1.72 per lt. The balance influence of Rs 0.53 is due to VAT. The boost is Rs 3.14 per litre  in Delhi

The modified retail trading cost per litre  of MS in the four metros from midnight of today  will be :

New Delhi  - Rs 66.84
Kolkata       - Rs 71.28
Mumbai     - Rs 71.92
Chennai     - Rs 70.82

Loss on MS sales till 15th Sep'11 was Rs 2427 Crs for the commerce which was not passed on to the customers. If the charges had not been modified the decrease to the Oil Marketing Companies (OMC) Industry would have been Rs 15 Crs per day.

However, on other perceptive petroleum goods, no cost hike has been effected even though the OMCs are currently having an under recovery of Rs 263 Crs per day. The minutia are as under:

HSD              Rs 6.05 per litre
SKO PDS     Rs 23.25 per litre
LPG Dom     Rs 267 per cylinder

Till designated day cumulative under recovery for the Oil businesses on the overhead three perceptive goods is Rs 61000 crs approximately. For more details visit our site :- http://www.iocl.com/aboutus/indianoil_in_media.aspx

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IndianOil Corporation Ltd is India's largest commercial enterprise. The IndianOil Group of companies owns and operates 10 of India's 20 refineries.