Press Information Bureau
Government of India
Ministry of Petroleum & Natural Gas
24-August-2012 15:12 IST
International Crude Oil Price of Indian Basket Rises Sharply on 23.08.2012 to US$ 114.71/BBL


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 increased to 114.71 US$ /barrel (bbl) on 23.8.2012.The price was higher than US$ 113.02 /bbl on the previous trading day of 22.8.2012.


In rupee terms also, the crude oil price went up to Rs 6330.84 per bbl on 23.08.2012 from Rs 6273.74 per bbl on 22.08.2012. This was due to price increase in dollar terms despite rupee appreciation with rupee-dollar exchange rate on 23.08.2012 at Rs 55.19 /US$ against Rs 55.51  /US$ on 22.08.2012.  


The table below gives details in this regard: 




Price on 23 August, 2012 (previous trading day

i.e. 22.8.2012)

Last Fortnight

August 1-15, 2012

(previous fortnight

16-31 July, 2012)

Crude Oil

(Indian Basket)


             114.71     (113.02)

       107.74   (102.65)          


           6330.84   (6273.74)

     5981.72 (5703.23)    

Exchange Rate


               55.19       (55.51)                                                                  

         55.52     (55.56)                   


RCJ/RKS –Daily Crude oil price- 24.08.2012