Almost No Change in Rupee Terms
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 to US$ 109.92/barrel (bbl) on 11.05.2012. This was lower than US$ 110.57//bbl prevailing on the previous trading day’s figures of 10.05.2012.
In rupee terms, however, the crude oil price remained almost unchanged at Rs 5896.11 on 11.5.2012 as compared to Rs 5897.80 per bbl on 10.05.2012. This was due to rupee depreciation with rupee-dollar exchange rate on 11.5.2012 at Rs 53.64/US$ against Rs 53.34//US$ on 10.05.2012.
