Global oil price: Indian Basket declines
New Delhi, Feb 28 : The international crude oil price of Indian Basket as computed/published on Thursday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas decreased to USUSD 109.74/barrel (bbl) on Feb 27.
This was lower than the price of US$ 110.17/bbl prevailing on the previous trading day of Feb 26.
In rupee term also, the crude oil price declined further to Rs 5908.40/bbl on Feb 27 as compared to Rs 5955.79/bbl on Feb 26.
This was due to fall in price in dollar terms and rupee appreciation.
Rupee-dollar exchange rate on Feb 27 was Rs 53.84/US$ against Rs 54.06/US$ on previous trading day of Feb 26.