Press Information Bureau
Government of India
Ministry of Petroleum & Natural Gas
17-May-2012 12:39 IST
International Crude oil Price of Indian Basket Declines to US$ 108.90/BBL on 16.05.2012; Increases 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$ 108.90/barrel (bbl) on 16.05.2012. This was lower than US$ 109.53/bbl prevailing on   the previous trading day’s figures of 15.05.2012. 


In rupee terms, however, the crude oil price was as higher Rs 5912.18 on 16.5.2012 as compared to Rs 5897.10 per bbl on 15.05.2012. This was due to rupee depreciation with rupee-dollar exchange rate on 16.5.2012 at Rs 54.29/US$ against Rs 53.84//US$ on 15.05.2012. 


            The table below gives details in this regard:




Price on 16 May, 2012 (previous trading day

i.e. 15.5.2012)

Last Fortnight

May 01-15, 2012

(previous fortnight

April 16-30, 2012 )

Crude Oil (Indian Basket)


108.90        (109.53)

111.15  (116.20 )


5912.18      (5897.10)

5957.89  (6063.32)

Exchange Rate


54.29          (53.84)

53.41    (52.18 )



RCJ/RKS –Daily Crude oil price- 17.05.2012