Press Information Bureau
Government of India
Ministry of Petroleum & Natural Gas
27-March-2012 12:1 IST
International Price of Crude Oil - Indian Basket inches Closer to 124 BBL on 26.3.2012
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 increased to US$ 123.98 per barrel (bbl). The price, computed and published by PPAC on their website is based on last trading day’s figures of 26.03.2012. The price previously computed/ published on 26.03.2012 based on trading figures of 23.03.2012, was US$ 123.21 per bbl.
In rupee terms also, the crude oil price was higher at Rs 6361.41 against Rs 6272.62 per bbl published on 23.03.2012, due to higher crude oil price in dollar and further rupee depreciation with rupee/dollar exchange rate at Rs 51.31/US$ on 26.03.2012 against Rs 50.91/US$ on 23.03.2012.
The table below gives details in this regard:
Particulars | Unit | Price on 26 March, 2012 (previous trading day i.e. 23.3.2012) | Fortnight March 1-15, 2012 (previous fortnight ) |
Crude Oil (Indian Basket) | ($/bbl) | 123.98 (123.21) | 124.03 (120.99) |
(Rs/bbl) | 6361.41 (6272.62) | 6186.62 (5943.61) |
Exchange Rate | (Rs/$) | 51.31 (50.91) | 49.88 (49.12) |
RCJ/RKS –Daily Crude oil price- 27-03-2012
International crude oil price rises, pushing domestic rupee price higher due to dollar strength and rupee depreciation. International crude oil price for the Indian Basket rose on 26 March 2012 in dollar terms, and the rupee per barrel price increased due to the higher dollar price combined with rupee depreciation; the release compares these figures with the prior trading day and a recent fortnight average and states the exchange rate used for conversion.
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