Press Information Bureau

Government of India

Ministry of Petroleum & Natural Gas

21-January, 2013 17:46 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 went down to US$ 108.92/barrel (bbl) on 18.01.2013. This was higher than the price of US$ 107.92/bbl prevailing on the previous trading day of 16.01.2013.

In rupee terms, on the contrary the crude oil price fell to Rs 5876.23/bbl on 18.01.2013 from Rs 5917.25/bbl on 16.01.2013. This was due to rupee appreciation with rupee dollar-exchange rate on 18.01.2013 at Rs 53.95 /US$ against Rs 54.83/US$ on 16.01.2013.

The table below gives details in this regard:

Particulars	Unit	Price on 18 January, 2013 (previous trading day i.e.16.01.2013)	Last Fortnight January  1-15, 2013 (previous fortnight 16-31, December 2012)
Crude Oil (Indian Basket)	($/bbl)	108.92    (107.92)	109.08   (107.76)
	(Rs/bbl	5876.23  (5917.25)	5969.95 (5912.79)
Exchange Rate	(Rs/$)	53.95      (54.83)	54.73     (54.87)

 

RCJ/RKS –Daily Crude oil price- 21.01.2013

 

Crude oil price decline reported; rupee appreciation reduced domestic barrel price despite marginal dollar movement. The international crude oil price for the Indian Basket was reported at US$ 108.92/bbl for 18 January 2013 with accompanying rupee and exchange rate figures; the rupee price fell on that date owing to rupee appreciation, and the release provides comparative daily and fortnightly price and exchange rate data to explain domestic price conversion.