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$ 104.47 per barrel (bbl) on 18.03.2014. This was marginally lower than the price of US$ 105.36 per bbl on previous trading day of 17.03.2014

In rupee terms, price of Indian Basket decreased to Rs. 6367.45 per bbl on 18.03.2014 as compared to Rs. 6481.75 per bbl on 17.03.2014. Rupee closed stronger at Rs. 61.44 per US$ on 18.03.2014 as against Rs. 61.52 per US$ on previous trading of 17.03.2014.

The table below gives details in this regard:

Particulars	Unit	Price on March 18, 2014 (Previous trading day i.e. 17.03.2014)	For Pricing Fortnight February 27 to March 12, 2014 Effective 16.3.2014
Crude Oil (Indian Basket)	($/bbl)	104.47    (105.36)	106.18
	(Rs/bbl	6367.45     (6481.75)	6523.70
Exchange Rate	(Rs/$)	60.95     (61.52)	61.44

Global crude oil price change: Indian Basket edged down as rupee strengthened, affecting rupee-denominated oil prices. The Petroleum Planning and Analysis Cell reported the Indian Basket crude price fell to US$ 104.47 per barrel on 18 March 2014 from US$ 105.36 the previous trading day; in rupee terms the price declined to Rs. 6,367.45 per barrel as the rupee strengthened to Rs. 61.44 per US$.