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Global crude oil price: Indian basket falls

Source : IBNS
Last Updated: Wed, Nov 14, 2012 18:02 hrs

New Delhi, Nov 10 (IBNS) The international crude oil price for Indian Basket as computed/published by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas declined sharply to US$.105.60/barrel (bbl) on Nov 8.

With this, price was lower by US$2.77/bbl on Nov 8 as compared to US$108.37/bbl on the previous trading day's figures of Nov 7.

In rupee terms also, crude oil price fall to Rs 5748.86 per bbl on Nov 8 as compared to Rs 5879.07 per bbl on Nov 7.



This was due to rise in price in dollar terms though rupee depreciation moderated the fall in price in rupee terms the rupee-dollar exchange rate on Nov 8 was Rs 54.44/US$ against Rs 54.25/US$ on Nov 7.

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