Crude oil price of Indian Basket declines
The international crude oil price for Indian Basket as computed/published on Thursday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went down to USUSD 107.92/barrel (bbl) on Jan 16.
This was lower than the price of USUSD 108.76/bbl prevailing on the previous trading day of Jan 15.
In rupee terms also, the crude oil price fell marginally to Rs 5917.25/bbl on Jan 16 from Rs 5931.77/bbl on Jan 15.
This was due to fall in price decrease in dollar terms as rupee depreciation moderated most of the gains.
Rupee dollar-exchange rate on Jan 16 at Rs 54.83/USUSD against Rs 54.54/USUSD on Jan 15.