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 up to US$ 105.20 per barrel (bbl) on 07.03.2014. This was higher than the price of US$ 105.20 per bbl on previous trading day of 6.03.2014

 In rupee terms also, the price of Indian Basket increased marginally to Rs. 6453.35 per bbl on 07.03.2014 as compared to Rs. 6450.86 per bbl on 06.03.2014. This was due to increase in price in dollar terms and helped by the marginal rupee depreciation. Rupee closed stronger at Rs. 60.99 per US$ on 07.03.2014 as against Rs 61.32 per US dollar on previous trading of 06.03.2014.

The table below gives details in this regard:

Particulars	Unit	Price on March  07, 2014 (Previous trading day i.e. 06.03.2014)	For Pricing Fortnight February 13 to 12, 2014  Effective 01.3.2014
Crude Oil (Indian Basket)	($/bbl)	105.81       (105.20)	107.14
	(Rs./bbl)	6453.35          (6450.86)	6655.54
Exchange Rate	(Rs./$)	60.99         (61.32)	62.12

 

RCJ/Daily Crude oil price- 10.03.2014    

Crude oil price update: Indian Basket shows marginal increase driven by dollar price movement and exchange-rate effect. Publication of the international crude oil price for the Indian Basket recorded a marginal rise in dollar and rupee terms for the reported trading day, attributing the rupee increase to the dollar price movement and exchange-rate variation; the release provides dollar and rupee per-barrel figures and the closing exchange rate used for conversion, and supplies comparative prior-trading-day and pricing-fortnight reference values for short-term monitoring.