New Delhi, March 19: The under-recovery, or revenue loss, on diesel for the second fortnight effective March 16 has come back down to Rs.7.16 per liter from Rs.8.37 during the primary fortnight of the month, the petroleum ministry aforesaid Tues.

“In the case of PDS hydrocarbon and Domestic LPG the under-recoveries for the month of March 2014 remains unchanged at Rs.36.34 per liter and Rs.605.80 per cylinder severally as their refinery gate costs area unit determined on monthly basis,” the ministry added.

“Oil marketing companies (OMCs), effective 16, March 2014, are currently incurring combined daily under-recovery of regarding Rs.399 crore on the sale of diesel, PDS kerosene and domestic LPG. this is less than Rs.411 crore daily under-recoveries during previous fortnight effective 01.03.2014,” the ministry aforesaid.

The 3 companies had along lost Rs.1,00,632 crore on the sale of the 3 product in April-December and will finish the financial year with a complete under-recovery of regarding Rs.1,40,000 crore. This compares with an under-recovery of Rs.1,61,029 large integer in 2012-13 and Rs.1,38,541 crore within the previous financial .

The Indian basket crude value per barrel (159 litres to a barrel) has dropped to $105.36 per barrel from $106.18.

Since Jan 2013, diesel rates have up by a cumulative Rs.8.33 per liter.