Modulating Retail Selling Price of sensitive petro products, says Pradhan

The minister of state (I/C) for petroleum & natural gas Dharamendra Pradhan informed the Lok Sabha in a written reply on Monday that in order to insulate the common man from the impact of rise in international oil prices and the domestic inflationary conditions, the government has been modulating the Retail Selling Price (RSP) of sensitive petroleum products viz. diesel (in retail), PDS Kerosene and subsidised domestic LPG, resulting in incidence of under-recovery to the Public Sector Oil Marketing Companies (OMCs). The government has evolved a burden sharing mechanism to ensure that the burden of under-recoveries incurred by OMCs is shared by all the stakeholders in the following manner: