Price Build-up of Diesel at Delhi Retail Outlets Sr. No. 1* 2 3 4* 5 Elements FOB AG Price for Gasoil 0.05% Sulphur Trade Premium AG Price for Gasoil 0.05% Sulphur Derived Quality Premium for BS-III Grade Ocean Freight from AG to Indian Ports C&F (Cost & Freight) Price OR 6* 7* 8* 9* 10* 11* 12 13* 14* 15* 16 17* 18 19* 20* 21* 22 Import Charges (Insurance/Ocean Loss/ LC Charge/Port Dues) Customs Duty @2.58% (2.50% + 3% Education cess) Import Parity Price (at 29.5º C) Export Parity Price (at 29.5º C) Trade Parity Price (80% of (8)+20% of (9)) (Sum of 1 to 4) Unit $/bbl $/bbl $/bbl $/bbl $/bbl Rs./Litre Rs./Litre Rs./Litre Effective 16th Aug'13 121.08 2.51 0.13 1.74 125.46 47.48 0.44 1.24 49.15 46.82 48.68 48.68 0.04 0.89 0.69 0.70 51.00 10.22 40.78 3.56 1.09 5.96 51.40

(Sum of 5 to 7) Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre (16-17) Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre

Refinery Transfer Price (RTP) for BS-III Diesel (Price Paid by the Oil Marketing Companies to Refineries) Add: Premium recovered for BS-IV Grade over BS-III Add : Inland Freight and Delivery Charges Add : Marketing Cost of OMCs Add : Marketing Margin of OMCs Total Desired Price (Sum of 11 to 15) -Before Excise Duty, VAT and Dealer Commission Less: Under-recovery to Oil Marketing Companies Price Charged to Dealers (Depot Price) - Excluding Excise Duty & VAT Add : Specific Excise Duty @ Rs.3.56/Litre (Rs.3.46/Litre+ 3% Education cess) Add : Dealer Commission Add : VAT (including VAT on Dealer Commission) applicable for Delhi @ 12.50% and Air Ambience Charges @ Rs.250/KL. Retail Selling Price at Delhi (Sum of 18 to 21)

*The explanatory notes are given in the attachment **Fortnightly RTP is weighted average of all Indian Pricing Ports. Price is for IOCL

Price Build-up of PDS Kerosene at Delhi Sr. No. 1* 2* 3 Elements FOB Price at Arab Gulf of Jet / Kero (Kerosene ) Add: Ocean Freight from AG to Indian Ports C&F (Cost & Freight) Price Unit $/bbl $/bbl $/bbl OR Rs./Litre 4* 5* 6* 7* 8* 9* 10* 11 12* 13* 14 15* 16* 17* 18 Import Charges (Insurance/Ocean Loss/ LC Charge/Port Dues) Customs Duty Import Parity Price (at 29.5º C) (Sum of 3 to 5) Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre (11-12-13) Rs./Litre Rs./Litre Rs./Litre Rs./Litre Rs./Litre Effective 1st Aug'13 120.55 2.23 122.78 45.51 0.30 NIL 45.81 45.81 0.75 0.42 0.33 47.31 0.82 33.54 12.95 0.00 1.29 0.71 14.96

Refinery Transfer Price (RTP) for PDS Kerosene (Price Paid by the Oil Marketing Companies to Refineries) Add : Inland Freight and Delivery Charges Add : Marketing Cost of OMCs Add : Marketing Margin of OMCs Total Desired Price (Sum of 7 to 10) -Before Excise Duty, VAT and Wholesale & Retailer Commission Less : Subsidy by Central Government Less: Under-recovery to Oil Marketing Companies Price Charged to Dealers (Depot Price) - Excluding Excise Duty & VAT Add : Excise Duty (Including Education Cess) Add : Wholesale & Retailer Commission and Other charges fixed by State Government Add : VAT (including VAT on Wholesale & Retailer Commission) applicable for Delhi Retail Selling Price at Delhi (Sum of 14 to 17)

* The explanatory notes are given in the attachment. **Monthly RTP is weighted average of all Indian Pricing Ports.

Price Build-up of Domestic LPG (Subsidized) at Delhi Sr. No. 1* 2* 3 Elements FOB Price at Arab Gulf of LPG Add: Ocean Freight from AG to Indian Ports C&F (Cost & Freight) Price Unit $/MT $/MT $/MT OR Rs./Cylinder 4* 5* 6* 7* 8* 9* 10* 11 12 13* 14* 15* 16* 17* 18* 19* 20 Import Charges (Insurance/Ocean Loss/ LC Charge/Port Dues) Customs Duty Import Parity Price (Sum of 3 to 5) Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Rs./Cylinder Effective 1st Aug'13 789.39 44.36 833.75 707.36 5.92 NIL 713.28 713.28 39.30 10.52 6.19 38.68 807.98 22.58 411.99 373.41 0.00 37.25 0.00 410.66 410.50

Refinery Transfer Price (RTP) for Domestic LPG (Price Paid by the Oil Marketing Companies to Refineries) Add : Inland Freight and Delivery Charges Add : Marketing Cost of OMCs Add : Marketing Margin of OMCs Add : Bottling Charges (Filling and Cylinder Cost) Total Desired Price (Sum of 7 to 10) -Before Excise Duty, VAT and Distributor Commission Less : Subsidy by Central Government Less: Under-recovery to Oil Marketing Companies Price Charged to Distributor (Bottling Plant Price) (12-13-14) - Excluding Excise Duty & VAT Add : Excise Duty (Including Education Cess) Add : Distributor Commission: Establishment charges - Rs.22.25/Cylinder &
Delivery Charges - Rs.15.00/Cylinder

Add : VAT(including VAT on Distributor Commission) applicable for Delhi Retail Selling Price Retail Selling Price at Delhi (Rounded) (Sum of 15 to 18)

* The explanatory notes are given in the attachment. **Monthly RTP is weighted average of all Indian Pricing Ports.

Element wise explanation of Price Build up of Diesel Sr. No. 1&2 Elements FOB Price & Trade Premium Description FOB (Free on Board) daily quotes of Gasoil at Arab Gulf including premium /discount published by Platts and Argus publications are averaged for previous fortnight. Ocean freight from Arab Gulf to destination Indian ports as per World Scale freight rate adjusted for AFRA. Insurance charges, Ocean Loss, LC Charges & Port dues applicable on import of product. Customs duty on diesel is 2.50% + 3% Education cess. IPP represents the price that importers would pay in case of actual import of Diesel at the respective Indian ports. EPP represents the price which oil companies would realize on export of diesel i.e. FOB price of product (serial no.1) plus Advance License benefit (ALB) (for duty free import of crude oil pursuant to export of refined products). Consequent to abolition of Customs Duty of Crude oil effective 25.06.2011, the ALB is currently NIL. Trade Parity Price is 80% of IPP & 20% of EPP effective 16.6.2006 as per recommendations of Rangarajan Committee Report. RTP based on Trade Parity Price is the price paid by the Oil Marketing Companies to domestic refineries for purchase of diesel at refinery gate. It comprises of average freight from ports to inland locations and delivery charges up to Retail Outlet. Marketing Cost & Margin is as per Marketing Cost Study Report, Nov. 2006 by Cost Accounts Branch,MoF. Difference between Desired Price and Actual selling price (excluding Excise Duty, VAT and dealer commission), represents under-recoveries to OMCs. Excise duty on diesel is Rs.3.46/ Litre + Education Cess @ 3%. Dealer commission on diesel is Rs.912/KL (effective 01-July-2011) as fixed by MoP&NG. VAT at applicable rate in respective State. It varies from state to state. Currently in Delhi, State Taxes on Diesel is VAT @ 12.50% + Air Ambience charges Rs.250/KL.

2 4 5 6

Ocean Freight Import Charges Customs Duty Import Parity Price (IPP)

7

Export Parity Price (EPP)

8

Trade Parity Price (TPP)

9

Refinery Transfer Price (RTP)

11 12 13

Inland Freight & Delivery charges Marketing Cost Marketing Margin

15

Under recovery to OMCs

17 18

Excise Duty Dealer Commission

19

VAT (Sales Tax)

Element wise explanation of Price Build up of PDS Kerosene Sr. No. 1 FOB Price Elements Description FOB (Free on Borad) daily quotes of Jet/Kerosene at Arab Gulf including premium / discount published by Platts and Argus publications are averaged for previous month. Ocean freight from Arab Gulf to destination Indian ports as per world scale freight rates adjusted for AFRA. Import charges comprises of Insurance, Ocean Loss, LC Charges & Port dues applicable on import of product. Customs duty on PDS kerosene is Nil. IPP represents the price that importers would pay in case of actual import of kerosene at the respective Indian ports. Import Parity Principle is as per the 'PDS Kerosene and LPG (Domestic) Subsidy Scheme, 2002'. RTP based on Import Parity Price, the price paid by OMCs to refineries. It comprises of average freight from ports to inland locations and delivery charges. Marketing Cost & Margin are as fixed in the 'PDS Kerosene and LPG (Domestic) Subsidy Scheme, 2002'. Average subsidy of Rs.0.82/Litre is provided from Government Budget as per the 'PDS Kerosene and LPG domestic subsidy scheme 2002'. Difference between desired price (based on Import Parity) and actual selling price (excluding Excise Duty, VAT , wholesale & retail dealer commission and other charges), represents under-recoveries to OMCs. Excise duty on PDS kerosene is Nil. Commission fixed for Wholesale & Retail Dealer and other charges like delivery charges by District authorities / State Government. VAT at applicable rate in respective State. It varies from state to state. Currently in Delhi, VAT on PDS kerosene is 5.00%.

2 4 5

Ocean Freight Import Charges Customs Duty

6

Import Parity Price (IPP)

7 8 9 10 12 13 15 16

Refinery Transfer Price (RTP) Inland Freight & Delivery charges Marketing Cost Marketing Margin Subsidy by Central Government Under recovery to OMCs Excise Duty Wholesale & Retail Dealer Commission and Other charges fixed by State Government VAT (Sales Tax)

17

Element wise explanation of Price Build up of Domestic LPG Sr. No. 1 FOB Price Elements Description FOB (Free on Board) of LPG is weighted average of Saudi Aramco contract price (CP) for Butane (60%) & Propane (40%) for previous month and also includes daily quotes of premium / discount (published by Platts Gaswire) averaged for previous month. Ocean freight from Arab Gulf to destination Indian ports based on charter hire rates obtained from Clarkson Shipping Intelligence weekly. Import charges comprises of Insurance, Ocean Loss, LC Charges & Port dues applicable on import of LPG. Custom duty on domestic LPG is Nil. IPP represents the price that importers would pay in case of actual import of product at the respective Indian ports. Import Parity Principle is as envisaged in the 'PDS Kerosene and LPG (Domestic) Subsidy Scheme, 2002'. RTP is based on Import Parity Price. This is the price paid by the Oil Marketing Companies to domestic refineries for purchase of finished petroleum products at refinery gate. It comprises of average freight from port to inland locations and Local Delivery charges up to distributor. Marketing Cost & Margin as fixed under notified 'PDS Kerosene and LPG (Domestic) Subsidy Scheme, 2002'. The cost incurred towards filling LPG in 14.2 Kg. cylinders as per notified 'PDS Kerosene and LPG (Domestic) Subsidy Scheme, 2002'. Average Subsidy of Rs.22.58/Cylinder is provided from Government Budget as per 'PDS kerosene and domestic LPG subsidy scheme, 2002'. Difference between Desired price and actual selling price (excluding Excise Duty, VAT and distributor commission), represents underrecoveries to OMCs. Excise duty on domestic LPG is Nil. LPG distributor commission Rs.37.25/Cylinder (effective 07-Oct-2012) is as approved by MoP&NG. VAT at applicable rate in respective States. It varies from state to state (up to a maximum of 5% as Domestic LPG is 'Declared Goods' under CST Act). Currently VAT at Delhi is Nil.

2 4 5

Ocean Freight Import Charges Customs Duty

6

Import Parity Price (IPP)

7

Refinery Transfer Price (RTP)

8 9 10 11 13 14 16 17

Inland Freight & Delivery charges Marketing Cost Marketing Margin Bottling Charges (Filling & Cylinder Cost) Subsidy by Central Government Under recovery to OMCs Excise Duty Distributor Commission

18

VAT (Sales Tax)