Global crude oil price of Indian Basket increases sharply to US$ 104.17/bbl mark on 11 Novcember 2013

Rupee depreciation adds to crude oil price

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) went up sharply to US$ 104.17/per barrel (bbl) on 11 November 2013. This was higher than the price of US$ 102.96/bbl which prevailed on the previous trading day of 08 November 2013.

In rupee terms also, the crude oil price rose rapidly to reach Rs 6593.96 per bbl on 11 November 2013 as compared to Rs 6458.68 /bbl on 08 November 2013. This was due to increase in price dollar terms and further boosted by rupee depreciation. Rupee-dollar exchange rate on 11 November 2013 worsened to Rs 63.30/US$ against Rs 62.73/bbl on previous trading day of 8 November 2013.

The table below gives details in this regard:

Particulars Unit Price on November 11, 2013 (previous trading day i.e.08 November 2013) Last Fortnight October 16-31, 2013 (previous fortnight i.e. October 1-15, 2013)Crude Oil (Indian Basket) ($/bbl) 104.17 (102.96) 107.37 (107.38) (Rs/bbl 6593.96 (6458.68) 6604.33 (6629.64) Exchange Rate (Rs/$) 63.30 (62.73) 61.51 (61.74)

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