Global crude oil price: Indian Basket declines
The international crude oil price for Indian Basket as computed/published on Monday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas came down to USUSD 107.48/barrel (bbl) on Dec 21.
This was lower than the price of USUSD 108.02/bbl on the previous trading day of Dec 20.
In rupee terms also, the crude oil price declined marginally to Rs 5921.07/bbl on Dec 21 from Rs 5923.82/bbl on Dec 20.
Most of the gains from fall in prices in dollar terms were eroded due to rupee depreciation.
Rupee dollar-exchange rate on Dec 21 was Rs 55.09/USUSD against Rs 54.84/USUSD on previous trading day of Dec 20.