Friday, 14 March 2014

Global crude oil price of Indian Basket declines marginally to 105.05 per bbl on 12.3.2014

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went down to US$ 105.05 per barrel (bbl) on 12.03.2014. This was   lower than the price of US$ 105.50 per bbl on previous trading day of 11.03.2014
In rupee terms, though price of Indian Basket marginally increased to Rs 6417.50 per bbl on 12.03.2014 as compared to Rs 6403.85 per bbl on 11.03.2014. This was due to rupee depreciation which completely out gains of fall in price in dollar terms. Rupee closed stronger at Rs 61.09 per US$ on 12.03.2014 as against Rs 60.70 per US$ on previous trading of 11.03.2014. 
The table below gives details in this regard:
Price on March  12, 2014 (Previous trading day i.e. 11.03.2014)
For Pricing Fortnight February 13 to 12, 2014  Effective 01.3.2014
Crude Oil (Indian Basket)
105.05            (105.50)
6417.50          (6403.85)
Exchange Rate
61.09              (60.70)

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