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Oil price: Indian Basket resumes rising trend

Source : IBNS
Last Updated: Wed, Jun 26, 2013 17:45 hrs

New Delhi, June 26 (IBNS) The international crude oil price of Indian Basket as computed/published on Wednesday by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas increased sharply to US$ 99.96/per barrel (bbl) on June 25.

This was higher than the price of US$ 98.23/bbl prevailing on the previous trading day of June 24.

The Indian Basket crude oil price had fallen to 98.23/bbl on June 24 from US$ 100.10/bbl on June 21 (the earlier trading day).



The crude oil price in rupee terms also recorded sharp increase reaching Rs 5967.61/bbl on June 25 as compared to Rs 5867.28/bbl on June 24.

This was due to price increase in dollar terms though marginal rupee appreciation moderated a small part of the impact of price rise.

Rupee-dollar exchange rate on June 25 was Rs 59.70/US$ against Rs 59.73/ regarded sharp US$ on previous trading day of June 24.

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