Global crude oil price: Indian Basket rises
The international crude oil price for Indian Basket as computed/published on Wednesday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went up to USUSD 107.18/barrel (bbl) on Dec 18.
This was higher than the price of USUSD 106.96/bbl on the previous trading day of Dec 17.
In rupee terms also, the crude oil price increased to Rs 5878.82/bbl on Dec 18 from Rs 5843.22/bbl on Dec 17.
This was due to price increase in dollar terms and rupee depreciation.
Rupee dollar-exchange rate on Dec 18 was Rs 54.85/USUSD against Rs 54.63/USUSD on previous trading day of Dec 17.