Global crude oil price of Indian Basket up $111 per barrel

Crude oil price declined to Rs 6,018.43/bbl on Feb 25, 2013 as compared to Rs 6,035.20/bbl on Feb 22, 2013 due to rupee appreciation

The international crude oil price of Indian Basket as computed/published today by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas increased to $111.37 per barrel (bbl) on February 25, 2013. This was higher than the price of $110.88 per barrel prevailing on the previous trading day of February 22, 2013.

In rupee terms, however, the crude oil price declined to Rs 6,018.43/bbl on February 25, 2013 as compared to Rs 6,035.20/bbl on February 22, 2013. This was due to price in rupee appreciation. With rupee-dollar exchange rate at Rs 54.04/US$ against Rs 54.43/US$ on previous trading day of February 22, 2013, the ministry of petroleum and natural gas said in a statement.