Press Information Bureau

Government of India

Ministry of Petroleum & Natural Gas

12-October-2012 15:44 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$ 112.60/barrel (bbl) on 11.10.2012. This was higher than US$ 112.30/bbl on the previous trading day’s figures 10.10.2012.

In rupee terms also, the crude oil price increased to Rs 5975.68 per bbl on 11.10.2012 as compared to Rs 5956.39 per bbl on 10.10.2012. This was due to rise in price in dollar terms and rupee depreciation with rupee-dollar exchange rate on 11.10.2012 at Rs 53.07/US$ against Rs 53.04/US$ on 10.10.2012. 

The table below gives details in this regard

RCJ/RKS –Daily Crude oil price- 11.10.2012 

International crude oil price rises marginally, with dollar strength and rupee depreciation raising domestic reporting of oil costs. International crude oil price for the Indian Basket rose marginally to US$ 112.60/bbl on 11 October 2012 from US$ 112.30/bbl on 10 October 2012, and in rupee terms to Rs 5975.68/bbl from Rs 5956.39/bbl; the release attributes the rupee increase to both the dollar price rise and slight rupee depreciation, with the exchange rate at Rs 53.07/US$ versus Rs 53.04/US$.