Global Crude oil price of Indian Basket was US$ 36.17 per bbl on 07.03.2016

Global Crude oil price of Indian Basket was US$ 36.17 per bbl on 07.03.2016

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 36.17 per barrel (bbl) on 07.03.2016. This was higher than the price of US$ 34.13 per bbl on previous publishing day of 04.03.2016.

In rupee terms, the price of Indian Basket increased to Rs 2433.35 per bbl on 07.03.2016 as compared to Rs 2295.93 per bbl on 04.03.2016. Rupee closed stronger at Rs 67.27 per US$ on 07.03.2016 as against Rs 67.38 per US$ on 03.03.2016. The table below gives details in this regard:

Particulars     Unit Price on March 07, 2016 (Previous trading day i.e. 04.03.2016) Pricing Fortnight for 01.03.2016

(12 Feb to 25 Feb, 2016)

Crude Oil (Indian Basket) ($/bbl)               36.17             (34.13) 30.61
(Rs/bbl           2433.35         (2295.93) 2096.17
Exchange Rate   (Rs/$)             *67.27             (67.27) 68.48

* RBI reference rate for 07.03.2016 is not available. Therefore reference rate of 04.03.2016 has been considered.