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Global oil price of Indian Basket falls

Posted on Mar 06, 10:34AM | IBNS

New Delhi, Mar 5 : The international crude oil price of Indian Basket as computed/published on Tuesday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas declined to US$ 106.34/barrel (bbl) on Mar 4.

This was lower than the price of US$ 107.10/bbl prevailing on the previous trading day of Mar 1.

In rupee terms, however, the crude oil price increased to Rs 5854.02/bbl on Mar 4 as compared to Rs 5834.81/bbl on Mar 1.

This was due to rupee depreciation.

Rupee-dollar exchange rate on Mar 4 was Rs 55.05/US$ against Rs 54.48/US$ on previous trading day of Mar 1.