Crude oil price of Indian Basket declines

New Delhi, Dec 6 : The international crude oil price of Indian Basket as computed/published on Friday by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went down to US$ 109.52/per barrel (bbl) on Dec 5.

This was lower than the price of US$ 110.33/bbl which prevailed on the previous trading day of Dec 4.

In rupee terms also, the crude oil price fell sharply to Rs 6756.29 per bbl on Dec 5 as compared to Rs 6876.87 /bbl on Dec 4.

This was due to decline in price in dollar terms and further helped on by stronger rupee.

Rupee-dollar exchange rate improved on Dec 5 to Rs 61.69/US$ against Rs 62.33/bbl on previous trading day of Dec 4.

--IBNS (Posted on 06-12-2013)

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