International Crude Oil Price of Indian Basket Declines to US$ 103.12/BBL on Aug 1

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New Delhi, August 2, 2012: 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 decreased to 103.12 US$ /barrel (bbl) on 01.8.2012.The price was marginally lower than US$ 103.34 /bbl on the previous trading day of 31.7.2012.

In rupee terms also, there was a slight decrease in crude oil price to Rs 5721.10 per bbl on 01.08.2012 from Rs 5767.41 per bbl on 31.07.2012. This was due to price decrease in dollar terms and rupee appreciation with rupee-dollar exchange rate on 01.08.2012 at Rs 55.48 /US$ against Rs  55.81 /US$ on 31.07.2012.