Press Information Bureau

Government of India

Ministry of Petroleum & Natural Gas

07-March-2012 12:54 IST

The international crude oil prices for Indian Basket as computed/published today by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was slightly lower at US$ 122.95 per barrel (bbl). The price, computed and published by PPAC on their website is based on last trading day’s figures of 06.03.2012. The price last computed/ published on 06.3.2012 based on trading figures of 5.3.2012, was US$ 123.16 per bbl.

In rupee terms however, the crude oil price was higher today at Rs 6151.19 against Rs 6133.37  per bbl published on 06.3.2012, due to rupee depreciation with rupee/dollar exchange rate at  Rs 50.03/US$ on 06.03.2012 against Rs 49.80/US$ on  05.3.2012.

The table below gives details in this regard:

 

 RCJ/RKS –Daily Crude oil price- 07-03-2012

International crude oil price reporting shows slight dollar decline but higher rupee price due to currency depreciation. The Petroleum Planning and Analysis Cell published the international crude oil price for the Indian Basket showing a slight decline in dollar terms but a higher rupee price due to rupee depreciation; the daily computation uses the previous trading day's market figures and the applicable exchange rate to convert dollar prices into rupees.