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Press Information Bureau
Government of India
Ministry of Petroleum & Natural Gas
23-May-2012 17:28 IST
The international crude oil price 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$ 106.95/barrel (bbl) on 22.05.2012. This was slightly higher than US$ 106.43//bbl, the previous trading day’s figures of 21.05.2012.
In rupee terms, however, the crude oil price increased to Rs 5869.42 on 22.5.2012 from Rs 5819.59 per bbl on 21.05.2012. This was due to increase in the price in dollar terms despite rupee depreciation with rupee-dollar exchange rate on 22.5.2012 at Rs 54.88/US$ against Rs 54.68//US$ on 21.05.2012.
The table below gives details in this regard
Particulars | Unit | Price on 22 May, 2012 (previous trading day i.e. 21.5.2012) | Last Fortnight May 01-15, 2012 (previous fortnight April 16-30, 2012) |
Crude Oil (Indian Basket) | ($/bbl) | 106.95 (106.43) | 111.15 (116.20) |
(Rs/bbl) | 5869.42 (5819.59) | 5957.89 (6063.32) | |
Exchange Rate | (Rs/$) | 54.88 (54.68) | 53.41 (52.18) |
RCJ/RKS –Daily Crude oil price- 23.05.2012
International crude oil price rise increases domestic rupee cost amid concurrent rupee depreciation and exchange rate movements. International Crude Oil Price for the Indian Basket rose to US$ 106.95 per barrel on 22 May 2012, with the rupee price increasing to Rs 5,869.42 per barrel due to the dollar price rise and rupee depreciation; the PPAC release supplies day-to-day and fortnight comparisons and accompanying exchange-rate figures to show short-term price and exchange-rate movements. of Press 'Enter' after typing page number.
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