Crude oil price of Indian Basket increases
The international crude oil price of Indian Basket as computed/published on Tuesday by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went up further to USUSD 107.03 per barrel (bbl) on Feb 17.
This was higher than the price of US$ 106.40 per bbl on previous trading day of Feb 14.
In rupee terms however, the price of Indian Basket increased marginally to Rs 6630.51 per bbl on Feb 17 as compared to Rs 6626.59 per bbl on Feb 14.
This was due to rupee appreciation which absorbed to a great extend the impact of the price rise in dollar terms.
Rupee closed stronger at Rs 61.95 per US$ on Feb 17 against Rs 62.28 per US$ on Feb 14.
(Posted on 18-02-2014)