Weaker currency takes price beyond Rs 6000/bbl mark in price terms
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas increased to US$ 104.94/per barrel (bbl) on 12 November 2013. This was higher than the price of US$ 104.17/bbl which prevailed on the previous trading day of 11 November 2013.In rupee terms also, the crude oil price went further up to Rs 6673.13 per bbl on 12 November 2013 as compared to Rs 6593.96 /bbl on 11 November 2013. This was due to increase in price dollar terms and further boosted by also because of rupee depreciation. Rupee-dollar exchange rate on 12 November 2013 closed weaker at to Rs 63.59/US$ against Rs 63.30/bbl on previous trading day of 11 November 2013.
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