Press Information Bureau

Government of India

Ministry of Petroleum & Natural Gas

09-January, 2013 14:13 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$ 109.11/barrel (bbl) on 08.01.2013. This was higher than the price of US$ 108.50//bbl prevailing on the previous trading day of 07.01.2013. 

In rupee terms also, the crude oil price increased to Rs 6037.06/bbl on 08.01.2013 from Rs 5965.33/bbl on 07.01.2013. This was due to price increase in dollar terms and rupee depreciation. Rupee dollar-exchange rate on 08.01.2013 was Rs 55.33/US$ against Rs 54.98/US$ on previous trading day of 07.01.2013.

The table below gives details in this regard:

Particulars	Unit	Price on 08 January, 2013 i.e. 07.01.2013)	Last Fortnight December  16-31, 2012 (previous fortnight 1-15, December 2012)
Crude Oil (Indian Basket)	($/bbl)	109.11           (108.50)	107.76   (106.85)
	(Rs/bbl	6037.06         (5965.33)	5912.79 (5815.85)
Exchange Rate	(Rs/$)	55.33             (54.98)	54.87     (54.43)

 

 

RCJ/RKS –Daily Crude oil price- 09.01.2013

 

Crude oil price update shows a rise, with exchange rate depreciation amplifying rupee-denominated increases. Announcement of an upward revision in the international crude oil price for the Indian Basket, with corresponding rupee-denominated increase attributed to both a higher dollar price and rupee depreciation; tabulated day-to-day and fortnightly comparative figures for the crude benchmark and exchange rate are provided for short-term price tracking.