Sie sind auf Seite 1von 13

Why the petrol price hike is a good thing

Petrol prices were raised again recently, by Rs. 7.5 and the hike leaves the country seething, except those that drive diesel cars. And to make the diesel owners wince a little, the government will decide the fate of that fuel too, in a meeting soon. While there is outrage about this "unprecedented" price hike, let me play devil's advocate and temper down some of the most vehement arguments against this increase.

Why the petrol price hike is a good thing Petrol prices were raised again recently, by

Petrol Prices

With a tax of Rs. 26 per litre, can they not reduce taxes? Goa, for instance, has cut state taxes to zero; this gives the Goa and petrol pump the ability to sell petrol at Rs. 61, a good Rs. 12 less than the Delhi price of Rs. 73. How, though did the brand new Chief Minister, Mr. Manohar Parrikar do it?

He replaced the lost revenue on petrol by increasing taxes and fees everywhere else. After the monsoon session, you will have pay a toll tax just to enter Goa. Alcohol will be more expensive. A power of attorney that used to cost Rs. 25 will now cost Rs. 500. A 10% luxury tax now applies to beauty parlours. Cars get more expensive with entry taxes, VAT increases and higher road taxes.

So do you really want that, fellow Indians? That the government cuts taxes on petrol and diesel, and instead makes it more expensive for you to do anything else? Goa made the grade, and has not yet seen the impact of lower consumption due to the higher taxes. Other states, which are more dependent on the fuel revenue than Goa, might not be able to comply. Regardless, it is highly unlikely that we'll stay wedded to a low petrol price if it means higher taxes and prices elsewhere.

State VAT is only one part of the tax problem a larger chunk is the centre's "excise duty" which adds Rs. 14.78 to the petrol price, and which if brought down could make life a little easier for those of us that travel in petrol vehicles. So why can't the states and centre cut taxes together?

The central government isn't earning much more than it did, and if you take away some tax revenue, the gap between income and expenditure a wide one already will widen further.

The second argument then is: the government needs to spend less. That it does. It spends a lot of money just paying the oil companies for their taking losses on diesel and kerosene. In effect, a portion of what it collects as tax on that fuel goes back into paying for the losses incurred on these fuels. Yes, the government could cancel them out reducing the subsidy while at the same time cutting taxes on diesel. But that won't touch the petrol price which isn't subsidized, and the losses due to a cut in taxes won't be nullified in any other way.

Why can't the government cut taxes anyhow? Cutting government revenues is a problem of optics. Imagine being told that you must take a cut in salary, because the government just cut your income tax rate by 20% and inflation is only

10%. This is not acceptable to most people, although they might universally agree that a tax cut puts more in their pocket than earlier. A drop in revenue, for the government, is unthinkable, even if they did manage to cut expenses.

And there's the political problem of austerity. Spending lesser means cutting government employee salaries, cutting farmer subsidies like fertilizers, reducing the wages paid in the NREGA scheme or otherwise spending lesser on infrastructure. All these solutions have political problems, and the government will do all it can to prevent a backlash in these high-voter areas; petrol users are simply those that have enough money to avoid public transport, but not enough to buy a diesel guzzler, a population that is, by and large, not inclined to vote either. Most unrelated expense items have been cut already, even as the fiscal deficit a measure of how much more the government needs to borrow to match expenses with revenues ended up over 5% of GDP.

Prices also give a signal. If you raise prices, you lower demand. And undoubtedly, we need to reduce our reliance on petrol and diesel, which come from crude oil, our largest import. We import around $150 billion worth of crude oil every year, a figure that only increases as crude oil reaches new heights. This increases our trade deficit, and reduces the value of the rupee in dollar terms, which, in the end, makes our petrol more expensive in rupees. Our consumption hasn't slowed, mainly because we prefer, as a country, to not pass on market prices to our consumers. Effectively, without a price signal, consumption patterns don't change. Freeing prices may make them volatile, but we have lived with volatile necessities for years no one, for instance, calls for potato prices to be regulated. Even the search for alternative fuels or the encouraging of cheaper ones like natural gas will not happen as long as prices for current fuels remain subsidized.

On that vein, diesel prices must be increased as well, and LPG. The oil companies lost nearly 140,000 crores (Rs. 1.4 trillion) in diesel, LPG and Kerosene last year, half of which the government must bear.

Petrol prices may come down anyhow. The calculations above reflect a crude price of $124 in April, which has since fallen to $105 recently, even as the rupee touches Rs. 56 versus Rs. 53 earlier. Net of the above, petrol prices can fall to nearly Rs. 64 per litre, without any changes in state or central taxes. But that shouldn't change the view that prices need to stay deregulated. After all, when international prices go down, we won't like the argument that they can't cut prices until they make up for past losses.

What is Petroleum?

Petroleum is a fossil fuel. It is called a fossil fuel because it was formed from the remains of tiny sea plants and animals that died millions of years ago. When the plants and animals died, they sank to the bottom of the oceans. They were buried by thousands of feet of sediment and sand that turned into rock.

Over time, this organic mixture was subjected to enormous pressure and heat as the layers increased. The mixture changed chemically, breaking down into compounds made of hydrogen and carbon atomshydrocarbons. Finally, an oil-saturated rockmuch like a wet household spongewas formed.

All organic material buried underground does not turn into oil. Certain geological conditions must exist within the rock formations for the transformations to occur. First, there must be a trap of non-porous rock that prevents the material from seeping out, and a seal (such as salt or clay) to keep the material from rising to the surface. Even under these conditions, only about two percent of the organic material is transformed into oil.

A typical petroleum reservoir is mostly sandstone or limestone in which oil is trapped. The oil in it may be as thin as gasoline or as thick as tar. It may be almost clear or black. Petroleum is called a nonrenewable energy source because it takes millions of years to form. We cannot make more oil in a short time.

History of Oil

People have used naturally available crude oil for thousands of years. The ancient Chinese and Egyptians, for example, burned oil to produce light.

Before the 1850s, Americans often used whale oil for light. When whale oil became scarce, people began looking for other oil sources. In some places, oil seeped naturally

to the surface of ponds and streams. People skimmed this oil and made it into

kerosene. Kerosene was commonly used to light America’s homes before the arrival of

the electric light bulb.

As demand for kerosene grew, a group of businessmen hired Edwin Drake to drill for oil in Titusville, PA. After much hard work and slow progress, he discovered oil in 1859.

Drake’s well was 69.5 feet deep, very shallow compared to today’s wells.

Drake refined the oil from his well into kerosene for lighting. Gasoline and other products made during refining were simply thrown away because people had no use for them.

In 1892, the horseless carriage, or automobile, solved this problem since it required gasoline. By 1920, there were nine million motor vehicles in this country and gas stations were opening everywhere.

Results-Framework Document (RFD) for Ministry of Petroleum and Natural Gas - (2011-2012)

To address Indias energy security needs in the hydrocarbons sector and to ensure availability of petroleum products at reasonable prices.

Mission

To accelerate domestic Exploration & Production (E&P) of hydrocarbons as well as

equity oil & gas abroad. To develop the hydrocarbon sector through technology up-gradation and capacity building in production, refining, transportation and marketing sectors. To develop supply and distribution infrastructure for petroleum products, to serve the needs of the economy, including households.To enhance service standards and to maximize customer satisfaction.Promote fuel

conservation, clean & green fuels and development of alternative sources of energy.

Objective

1

Increase in exploration coverage

2

New policy initiatives for E&P; sector

Making the sensitive petroleum products viz. , Diesel, PDS Kerosene and Domestic LPG available at reasonable prices

3

4

5

6

Increasing Refining Capacity

Improvement of Refinery performance

Extension of BS-IV Fuels

7

Providing Ministry’s support to PSUs and subordinate offices

8

To encourage use of Natural Gas

Ensuring availability of sensitive petroleum products across the country with effective marketing and distribution

9

10 To promote fuel conservation

Functions

Exploration and production of petroleum resources including all forms of hydrocarbons

in any state i.e. crude oil, natural gas, coal bed methane, gas from gas hydrates, shale gas etc.

1

Production, supply, distribution, marketing and pricing of petroleum products including natural gas.

2

3

Oil refineries, including Lube Plants, additives for petroleum and petroleum products.

Blending and blending prescription for bio- fuels including laying down the standards for such blending.

4

5

Marketing, distribution and retailing of bio-fuels and its blended products.

Vision

page : 2 of 17 Section 1:

Vision, Mission, Objectives and Functions

Results-Framework Document (RFD) for Ministry of Petroleum and Natural Gas - (2011-

2012)

  • 6 Conservation of petroleum products.

  • 7 Planning, development, control and assistance to all industries dealt with by the

Ministry.

  • 8 Strengthening energy security by acquiring oil and gas equity abroad and participation

in transnational oil & gas pipeline projects.

  • 9 Creation and administration of strategic petroleum reserves through Indian Strategic

Petroleum Reserve Limited (ISPRL). Supervision and monitoring of public sector undertakings (PSUs), all attached or subordinate offices, including Directorate General of

Hydrocarbons (DGH), Oil Industry Development Board (OIDB), Petroleum Planning and Analysis Cell (PPAC), Centre for High Technology (CHT), Petroleum Conservation Research Association (PCRA), Oil Industry Safety Directorate (OISD) under MoP&NG.;

10

11

Planning, development and regulation of oilfields services.

Administration of various Acts on the subjects allocated to the Ministry and the Rules made there under: a. The Oilfields (Regulation and Development) Act, 1948 b. The Oil & Natural Gas Commission (Transfer of Undertakings and Repeal) Act, 1993. c. The Petroleum & Minerals Pipelines (Acquisition of Right of User in Land) Act, 1962. d. The ESSO (Acquisition of Undertakings in India) Act 1974. e. The Oil Industry (Development) Act, 1974. f. The Burmah- Shell (Acquisition of Undertakings in India)Act, 1976. g. The Caltex (Acquisition of

Shares of Caltex Oil Refinery (India) Limited and of the Undertakings in India of the Caltex (India) Limited Act, 1977. h. The Petroleum Act, 1934 (30 of 1934) and the Rules made there under.

12

13

Oversee the Petroleum & Natural Gas Regulatory Board established under the

Petroleum & Natural Gas Regulatory Act, 2006.

Impact note: Fuel price hike to impact demand for passenger vehicles

Sharpest petrol price hike would dent passenger vehicle demand growth

The passenger vehicle (PV) industry witnessed a modest growth of 4.7 per cent in FY12. The growth levels remained subdued last fiscal mainly due to negative sentiments arising due to economic uncertainties, spiralling fuel prices and interest cost coupled with escalating inflation levels prompted many customers to defer their purchase decision. The single largest hike in petrol prices of Rs 7.5/- litre or 11 per cent coupled with rupee depreciation would further enhance pressure on domestic sales growth. CARE Research observed that 10 upward revisions that have taken place in petrol prices post deregulations in June 2010 has led to significant increase in the cost of ownership for petrol PVs.

Diesel cars continue to remain economical as compared to their petrol version CARE Research studied that the average fuel cost per km for diesel driven vehicles came to around Rs 2.7 per km as compared to petrol driven vehicles, was around Rs 7.0 per km as on May 2012. CARE Research studied that when travelling distance is more than 23 kms per day, operating diesel driven vehicle becomes more economical than petrol driven vehicle even after factoring the higher EMI outflow. Therefore, if a person has a daily running of 50 km an approximate saving in diesel vehicles would be Rs 130 daily.

Petrol Prices across the World - (Sorted by country name)

Country

$ per Ltr

2010

`/ ltr

$ per Ltr

2011

`/ ltr

$ per Ltr

2012

Amman, Jordan

Australia

Bahrain

Brazil

Canada

Cayman Islands

China

Czech Republic

Denmark

Dhaka,

Bangladesh

Doha, Qatar

Dubai, UAE

Fiji

Finland

France

Germany

Great Britain

Hongkong

Hungary

India

Iran

Ireland

Italy

Japan

Kabul,

Afghanistan

Kathmandu,

Nepal

Kuwait

Malaysia

Mexico

Mongolia

Muscat, Oman

Nairobi, Kenya

--

$1.20

--

$1.53

$0.96

--

--

--

--

--

--

--

--

--

--

--

--

--

--

$1.29

$0.37

--

$1.83

--

--

--

--

--

--

--

--

--

--

`53.80

--

`69.20

`42.50

--

--

--

--

--

--

--

--

--

--

--

--

--

--

`57.50

`17.40

--

`83.00

--

--

--

$1.42

$0.21

--

$1.27

$1.74

$0.98

$1.85

$2.36

$0.89

$0.22

$0.47

$2.50

$2.33

$2.28

$2.17

--

$0.78

$2.09

$1.33

$0.39

$1.99

$2.07

$1.84

$1.19

--

--

--

--

--

--

--

--

$0.24

$0.62

--

$1.18

--

$1.19

--

`65.00

`10.00

--

`56.40

`77.20

`44.20

`81.70

`106.60

`43.40

`10.20

`21.30

`111.20

`102.90

`100.70

`100.20

--

`35.10

`92.70

`70.70

`17.40

`103.20

`102.30

`94.30

`56.20

$1.42

$1.54

$0.27

--

$1.44

--

$1.43

$1.96

--

$1.12

$0.27

$0.48

--

$2.14

--

$2.27

$2.18

$2.21

$2.14

$1.40

--

$2.06

$2.36

$1.84

--

--

`11.00

`28.10

--

`61.70

--

`54.10

$1.46

$0.23

$1.90

$0.80

--

$0.31

$1.42

 

%

Deviation

`/ ltr

from

India,

2012

`78.00

2%

`78.60

2%

`14.80

-81%

--

--

`79.70

4%

--

--

`72.10

-6%

`98.00

28%

--

--

`62.00

--

`14.20

-81%

`24.40

-68%

--

--

`119.00

--

--

`113.30

48%

`118.90

55%

`108.90

42%

`110.30

44%

`76.70

--

--

--

`102.80

34%

`118.60

55%

`94.30

23%

--

--

`75.20

-2%

`12.70

-83%

`33.39

-56%

`40.80

-47%

--

--

`17.20

-78%

`78.10

2%

Netherland

--

--

$2.40

New Zealand Nigeria

--

--

$1.55

--

--

--

Norway

--

--

$2.47

Pakistan

$0.79

`36.60

$0.97

Poland Romania

--

--

$1.07

--

--

--

Russia, Moscow

--

--

--

Saudi Arabia Scotland

--

--

$0.12

--

--

--

Singapore

--

--

$1.67

South Africa

--

--

$1.49

Spain

--

--

$1.92

SriLanka

$1.01

`46.40

$1.14

Sweden

--

--

$2.34

Switzerland Tel Aviv, Israel

--

--

$2.03

--

--

--

Thailand

--

--

--

Turkey

--

--

$2.50

UK

$1.94

`86.70

$2.21

USA

$0.64

`30.00

$0.96

Vietnam

--

--

$1.03

Petrol Prices in India - (Sorted by country name)

City

2010

Price (`)

Agra

--

--

--

--

Ahmedabad

--

--

--

--

--

--

--

--

Ajmer, Rajasthan

--

--

Allahabad

--

--

Ballia, Ghazipur/ UP

--

--

Bangalore

--

--

--

--

 

--

--

--

--

--

--

16-Dec-

10

`63.45

--

--

`110.80

$2.42

`70.00

$1.67

--

$0.56

`109.10

$2.62

`45.80

$1.05

`52.60

$1.81

--

$1.66

--

$1.02

`5.70

$0.12

--

$2.29

`75.00

--

`66.80

$1.48

`84.80

--

`52.90

$1.25

`103.40

$2.25

`89.70

--

--

$2.11

--

$1.39

`130.10

$2.36

`99.10

$2.06

`48.40

$1.07

`46.10

--

2011

Price (`)

1-Nov-11 `71.13

18-Sep-11 `70.53 30-Sep-11 `71.20

22-May-

  • 11 `67.52

12-Feb-11 `62.24 25-Jan-11 `52.28 20-Sep-11 `70.04

5-Jun-11

`67.00

2-Mar-11 `60.91

1-Dec-11 `73.50

5-Nov-11 `77.00

3-Nov-11 `74.82 19-Oct-11 `75.00 29-Jun-11 `73.00

22-May-

  • 11 `71.00

3-Apr-11 `65.00

`121.30

58%

`91.00

19%

`31.30

-59%

`130.90

71%

`57.70

-25%

`88.10

15%

`91.40

19%

`50.20

-35%

`6.90

-91%

`124.90

63%

--

--

`74.60

-3%

--

--

`61.70

-20%

`112.40

47%

--

--

`103.90

35%

`71.10

-7%

`134.70

76%

`117.60

53%

`53.70

-30%

--

--

2012

Price (`)

31-Mar-

  • 12 `69.35

26-Jun-12 `74.00

26-May-

  • 12 `81.21

 

--

--

Belgaum, Karnataka

--

--

Bhadrachalam, Andhra Pradesh

--

--

Bhopal

--

--

Bhubaneswar, Orissa

--

--

Chennai

--

--

--

--

--

--

20-Aug-

10

`58.00

2-Jul-10

`57.00

--

--

--

--

Cochin

--

--

Coimbatore

--

--

--

--

--

--

Dehradun

--

--

Durgapur, West Bengal

--

--

Faridabad

--

--

Goa

--

--

Gujarat

--

--

Gurgaon, Haryana

--

--

--

--

Guwahati( Assam)

--

--

Hyderabad

--

--

14-Jul-10 `57.91

17-Jan-11 `65.45

14-May-

11

`65.00

--

--

10-Sep-11 `68.49 27-Oct-11 `66.72 9-Nov-11 `71.80

5-Nov-11 `72.73

23-Oct-11 `71.10

19-May-

11

`67.00

15-May-

`68.38

11

8-May-11 `63.00

8-Feb-11 `65.00 16-Jan-11 `63.36 20-Sep-11 `69.70

24-Oct-11 `71.00 13-Jun-11 `67.05

15-May-

11

`67.03

30-May-

11

`65.81

--

--

2-Feb-11 `59.31

  • 15-Dec- `65.00

11

5-Feb-11 `62.10

  • 15-May- `61.98

11

8-Feb-11 `59.00

25-May-

11

`66.65

1-Nov-11 `76.75

16-Sep-11 `74.48

18-May-

  • 12 `74.00

24-May-

  • 12 `78.64

30-May-

  • 12 `79.00

24-Mar-

  • 12 `77.00

23-Mar-

  • 12 `69.55

24-May-

  • 12 `77.58

27-Mar-

  • 12 `54.00

24-Mar-

  • 12 `77.50

15-Mar-

  • 12 `69.56

30-May-

  • 12 `81.00

26-May-

  • 12 `81.50

 

--

--

  • 15-May- `70.70

11

--

--

21-Mar-

11 `65.15

Indore

--

--

Jaipur, Rajasthan

6-Aug-10 `55.17 --

--

  • 16-May- `67.45

 

11

 

--

--

5-May-11 `62.64

Jalgaon/Maharashtra

--

--

  • 15-May- `69.00

11

Kanpur, UP

--

--

6-Jul-11

`67.25

Karnataka Kashmir

--

--

-- 18-Oct-11 `69.85

--

--

--

 

--

--

--

2-Feb-11 `62.96

Kerala

--

19-Sep-11 `70.00

--

--

9-Jun-11

`66.89

--

--

--

--

--

--

26-Apr-11 `61.96

--

4-Feb-11 `65.00

--

18-Jan-11 `61.31

Kolhapur

--

5-Nov-11 `76.50

Kolkata

--

1-Dec-11 `70.02

--

--

5-Nov-11 `73.15

--

--

16-Sep-11 `71.15

 

15-May-

`67.31

 

--

--

 

--

--

11

28-Feb-11 `62.50

 

--

Lucknow

--

16-Sep-11 `70.02

--

--

5-Feb-11 `62.61

Mangalore

--

--

23-May-

  • 11 `71.00

--

--

22-Jan-11 `64.55

Margao /Goa

8-Jul-10

`52.11

--

9-Mar-11 `58.31

Mumbai

--

1-Dec-11 `70.65

--

--

5-Nov-11 `73.81

--

--

--

--

31-Oct-11 `71.92

--

24-Sep-11 `71.62

--

12-Jun-11 `68.33

7-Jul-10

`55.20

15-May-

  • 11 `68.32

--

--

22-Feb-11 `65.00

4-Mar-12 `74.50

16-Jun-12 `75.96

25-May-

  • 12 `82.00

21-Apr-12 `67.70

24-May-

  • 12 `77.88

15-May-

  • 12 `70.03

9-May-12 `75.00

5-Jun-12

`78.00

24-May-

  • 12 `78.57

 

--

--

Muzaffarpur, Bihar Mysore

--

--

Nagpur

--

--

--

--

Najibabad, Bijnor, UP Nashik

--

--

Delhi, Okhla

--

--

--

--

New Delhi

--

--

--

--

--

--

4-Jul-10

`51.43

Noida

--

--

Panvel, Maharashtra

--

--

Pondicherry

--

--

19-Dec-

Pune

10

`60.47

--

--

11-Jul-10

`52.00

13-May-

Punjab

Rajkot

10

`53.00

--

--

Raipur,Chhattisgarh

--

--

Rohtak, Haryana Sai Nagar, Amravati,

--

--

Maharashtra Simla

--

--

Sirsa, Haryana

--

--

Surat

--

--

--

--

Thane

--

--

Tamil Nadu

13-Jul-10 `55.92

Tirupati

--

--

Trivandrum

--

--

16-Jan-11 `63.08 21-Jun-11 `65.00 1-Nov-11 `74.06

7-Feb-11 `65.00

--

--

17-Sep-11 `71.75

-- -- -- 5-Nov-11 `68.64

--

21-Sep-11 `66.84

15-May-

11

`63.41

16-Jan-11 `58.37

19-Sep-11 `70.77

--

--

15-May-

`61.64

11

17-Sep-11 `72.00

  • 15-May- `69.63

11

14-Apr-11 `63.00 2-Feb-11 `64.00

20-Sep-11 `73.87 1-Nov-11 `70.68 21-Feb-11 `59.89

--

--

5-Nov-11 `71.84 -- -- 1-Nov-11 `71.16 17-Sep-11 `71.00

3-Feb-11 `41.41

16-Jan-11 `63.01

20-Sep-11 `73.45 17-Sep-11 `70.00

30-May-

`81.44

12

11-Apr-12 `69.11

20-Jul-12 `72.40

4-Apr-12 `68.26

  • 31-Mar- `67.00

12

27-Jun-12 `70.24

27-Feb-12 `65.64

24-May-

12

`78.57

24-May-

`71.80

12

25-May-

`79.00

12

23-May-

12

`74.00

2-Jun-12

`73.48

1-Apr-12 `72.68

4-Apr-12 `66.67

20-Mar-

12

`73.35

24-May-

`77.59

12

30-May-

`81.30

12

9-Apr-12 `69.00

 

--

--

Vadodara, Gujarat

--

--

--

Vijaywada

--

Visakhapatnam

--

--

Notes:

--

23-Jul-11 `67.00

 

--

16-Jun-11 `65.91

--

1-Nov-11 `70.36

16-May-

`68.00

--

 

11

--

18-Feb-11 `61.51

 
 

24-May-

--

--

--

 

12

--

5-Nov-11 `75.00

--

27-Sep-11 `73.00

`81.28

1) The data has been garnered from various sources on the Internet. Accuracy is not guaranteed. 2) The prices are not strictly comparable because:

  • (a) They cover different grades of petrol

  • (b) They cover a period covering at least the last 4 months

  • (c) Some prices are inclusive of local taxes, while others are exlusive

  • (d) Prices vary across different regions within a country.

HIGHLIGHTS IN THE PETROLEUM & NATURAL GAS SECTOR DURING 2010-11

India has total reserves (proved & indicated) of 757 million metric tonnes of crude oil and1241 billion cubic metres of natural gas as on 1.4.2011. (Table-6) The total number of exploratory and development wells and metreage drilled in onshore and offshore areas during 2010-11 was 420 and 1005 thousand metres respectively. (Table-7) Crude oil production during 2010-11at 37.71 million metric tonnes is 11.91% higher than 33.69 million metric tonnes produced during 2009-10. (Table-10) Gross Production of Natural Gas in the country at 52.22 billion cubic metres during 2010-11 is 9.95% higher than the production of 47.50 billion cubic metres during 2009-10 (Table-11) The flaring of Natural Gas in 2010-11at 1.85% of gross production is lower than at 2.00% in 2009-10. (Table-11) The refining capacity in the country increased to 187.386 million matric tonnes per annum (MMTPA) as on 1.4.2011 from 183.386 MMTPA as on 1.4.2010. (Table-13) The total refinery crude throughput during 2010-11 at 206.15 million metric tonnes is higher about 7% than 192.77 million metric tonnes crude processed in 2009-10 (including data in respect of RIL,SEZ Refinery.) (Table-13) The production of petroleum products during 2010-11 was 190.364 million metric tonnes (including 2.168 million metric tonnes of LPG production from natural gas)against the last years production at 179.769 million metric tones ( including 2.243 million metric tones of LPG production from natural gas ). (Table -15) The country exported 59.13 million metric tonnes of petroleum products against the imports of 26.31 million metric tonnes (including 8.95 million metric tonnes of LNG) during 2010-11. (Table-17) The consumption of petroleum products during 2010-11 was 141.785 million metric tonnes (including sales through private imports) which is 3.60% higher than that of 138.196 million metric tonnes during 2009-10. (Table-18) The total number of retail outlets of Public Sector Oil Marketing Companies as on 1.4.2011 has gone upto 38964 from 36462 on 1.4.2010. (Table-22) The total number of LPG consumers of Public Sector Oil Marketing Companies as on 1.4.2011 were 125.266 million against 114.952 million as on 1.4.2010. (Table-

25)

The number of persons employed (including contract employees) in petroleum industry has been increased from 139865 on 1st April 2010 to 141929 on 1st April, 2011 (Table -43)