Press Information Bureau

Government of India

Ministry of Petroleum & Natural Gas

26-October-2012 12:28 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$.107.33/barrel (bbl) on 25.10.2012. This was higher than US$ 107.17/bbl on the previous trading day’s figures of 24.10.2012.

In rupee terms also, the crude oil price increased to Rs 5756.11 per bbl on 25.10.2012 as compared to Rs 5743.24 per bbl on 24.10.2012. This was due to price rise in dollar terms and helped by marginal rupee depreciation with rupee-dollar exchange rate on 25.10.2012 at Rs 53.63 /US$ against Rs 53.59 /US$ on 24.10.2012.

The table below gives details in this regard:    

 RCJ/RKS –Daily Crude oil price- 26.10.2012

Crude oil price rise; rupee depreciation and higher dollar-priced crude push up rupee-equivalent import costs. International crude oil price for the Indian basket rose to US$ 107.33 per barrel on 25 October 2012, from US$ 107.17 the prior trading day; in rupee terms the price increased to Rs 5756.11 per barrel. The rupee-denominated rise reflects the dollar price increase combined with marginal rupee depreciation (Rs 53.63/US$ on 25 October versus Rs 53.59/US$ on 24 October). Fortnightly averages for early October are provided to contextualise recent short-term price movements.