Press Information Bureau

Government of India

Ministry of Petroleum & Natural Gas

31-October-2012 12:46 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 rose to US$.107.65/barrel (bbl) on 30.10.2012. This was higher than US$ 107.29/bbl on the previous trading day’s figures of 29.10.2012.

In rupee terms also, crude oil price increased to Rs 5831.40 per bbl on 30.10.2012 as compared to Rs 5773.27 per bbl on 29.10.2012. This was due to price increase in dollar terms and rupee depreciation with rupee-dollar exchange rate on 30.10.2012 at Rs 54.17 /US$ against Rs 53.81 /US$ on 29.10.2012.

The table below gives details in this regard:

Particulars	Unit	Price on 30 October, 2012 (previous trading day i.e.29.10.2012)	Last Fortnight October  1-15,2012 (previous fortnight 16-30 September, 2012)
Crude Oil (Indian Basket)	($/bbl)	107.65       (107.29)	110.56    (109.91)
	(Rs/bbl	5831.40     (5773.27)	5806.61 (5896.67)
Exchange Rate	(Rs/$)	54.17          (53.81)	52.52     (53.65)

 RCJ/RKS –Daily Crude oil price- 31.10.2012

Crude oil price increase for Indian basket, driven by dollar rise and rupee depreciation affecting rupee-denominated prices. International crude oil price for the Indian basket rose to US$ 107.65 per barrel on 30 October 2012 from US$ 107.29 on 29 October 2012; rupee-denominated price increased to Rs 5,831.40 per barrel due to the dollar price rise and rupee depreciation as the exchange rate moved to Rs 54.17 per US$ from Rs 53.81. Fortnightly averages for 1-15 October and 16-30 September 2012 are also reported to contextualize short-term price movements.