The international crude oil price for Indian Basket as computed/published today by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas declined on 08.05.2012 to US$ 109.63/baral (bbl). This was lower than US$ 112.55/bbl on 04.05.2012 i.e. the last trading day figures available.
In rupee terms, also, the crude oil price came down sharply to Rs 5795.04 on 08.5.2012 as compared to Rs 6003.42 per bbl on 07.05.2012. This sharp decrease was due to two features- fall in price in dollar terms and rupee appreciation with rupee-dollar exchange rate, on 8.5.2012 at Rs 52.86/US$ against Rs 53.34//US$ on 07.05.2012.
The table below gives details in this regard:
|Particulars||Unit||Price on 08 May, 2012 (previous trading day i.e. 07.5.2012)||Last Fortnight
April 16-30, 2012
(previous fortnight April 1-15, 2012 )
|Crude Oil (Indian Basket)||($/bbl)||109.63 (112.55)*||116.20 (120.58)|
|(Rs/bbl)||5795.04 (6003.42)||6063.32 (6174.90)|
|Exchange Rate||(Rs/$)||52.86 (53.34)||52.18 (51.21)|
* Price available for last trade day of 04.05.2012