Crude oil price of Indian basket declines to US$ 110.95/bbl

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Crude oil price of Indian basket declines to US$ 110.95/bbl
The international crude oil price for Indian Basket as computed on Wednesday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas fell on Aug 28 to US$ 110.95 /barrel (bbl).

The price was higher at US$ 113.03/bbl on 24.08.2012, the last trading for which price of Indian Basket of crude oil was available.

In rupee terms also, the crude oil price declined to Rs 6188.79 per bbl on 28.08.2012 as compared to Rs 6259.60 per bbl on 24.08.2012. This was due to price falling in dollar terms, though rupee depreciation moderated the gains with rupee-dollar exchange rate on 28.08.2012 at Rs 55.78 /US$ against Rs 55.38 /US$ on 24.08.2012. 

However, crude oil futures prices on MCX declined by 0.31% to Rs 6,234 per barrel today in line with a weak trend in Asia.

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Read more about: crude
Story first published: Wednesday, August 29, 2012, 15:11 [IST]
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