Oil price of Indian Basket declines
New Delhi, Mar 11 : The international crude oil price of Indian Basket as computed/published on Monday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went down to USUSD 107.32/barrel (bbl) on Mar 8.
This was lower than the price of US$ 107.58/bbl prevailing on the previous trading day of Mar 7.
In rupee terms, also the crude oil price declined to Rs 5838.21/bbl on Mar 8 as compared to Rs 5888.93/bbl on Mar 7.
This was due to fall in price in dollar terms and also because of rupee appreciations.
The rupee-dollar exchange rate on Mar 8 at Rs 54.40/US$ against Rs 54.74/US$ on previous trading day of Mar 7.