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Global crude oil price of Indian Basket falls

Posted on Feb 25, 07:04PM | IBNS

New Delhi, Feb 25 : The international crude oil price of Indian Basket as computed/published Monday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went down to US$ 110.88/barrel (bbl) on Feb 22.

This was lower than the price of US$ 111.28/bbl prevailing on the previous trading day of Feb 21.

In rupee terms, also, the crude oil price of declined to Rs 6035.20/bbl on Feb 22 as compared to Rs 6062.53/bbl on Feb 21.

This was mainly due to fall in price in dollar terms as also assisted by moderate rupee appreciation.

Rupee-dollar exchange rate on Feb 22 was Rs 54.43/US$ against Rs 54.48/US$ on previous trading day of Feb 21.