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Ministry of Petroleum & Natural Gas13-March, 2012 16:47 IST

  • International Price of Crude Oil - Indian Basket Rules High at Over $ 124 Per BBL Mark on 12.3.2012

  • The international crude oil prices for Indian Basket as computed/published today by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas though lower, has continued to rule high at US$ 124.84 per barrel (bbl). The price, computed and published by PPAC on their website is based on last trading day’s figures of 12.03.2012. The price last computed/ published on 12.3.2012 based on trading figures of 9.3.2012, was US$ 125.13 per bbl.

  • In rupee terms also, the crude oil price was slightly lower today at Rs 6234.51  against Rs 6259.00 per bbl published on 09.3.2012, due to lower crude oil price in dollar terms and also because of rupee appreciation with rupee/dollar exchange rate at  Rs 49.94 /US$ on 12.03.2012 against Rs 50.02 /US$ on  09.3.2012.

  •  The table below gives details in this regard:

  • Particulars

    Unit

    Price on 12 March, 2012

    (previous trading day i.e. 09.3.2012)

    Fortnight

    Feb.16-29, 2012

    (previous fortnight )

    Crude Oil (Indian Basket)

    ($/bbl)

       124.84          (125.13)            

      120.99     (114. 64)         

    (Rs/bbl)

     6234.51        (6259.00)   

    5943.61  (5,639. 14)  

    Exchange Rate

    (Rs/$)

         49.94            (50.02)    

     

Source