Global Crude oil price of Indian Basket was Rs. 21.99 per Liter on 15.09.2017
The hike in Petrol Prices has become the latest issue questioning the Government. Today, the Biju Janata Dal (BJD) has also called a strike in Odisha over petrol and diesel prices. Media has claimed that the prices of the petrol are 3 times more than the international price.
The following press release (PR) issued by the Ministry of Petroleum & Natural Gas reveals that the claims of the Media are not unfounded. As per the PR, as on 15/09/2017, the rate was US$ 54.58 per bbl. According to wikipedia in US, an oil barrel is defined as 42 US gallons, which is about 159 litres. Thus taking Rs. 64.07 per USD the rate of petrol per liter works out to be Rs. 21.99 per liter only [159/(64.07×54.58)]
Ministry of Petroleum & Natural Gas
18-September, 2017 10:46 IST
Global Crude oil price of Indian Basket was US$ 54.58 per bbl on 15.09.2017
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$ 54.58 per barrel (bbl) on 15.09.2017. This was higher than the price of US$ 54.56 per bbl on previous publishing day of 14.09.2017.
In rupee terms, the price of Indian Basket increased to Rs. 3497.29 per bbl on 15.09.2017 as compared to Rs. 3495.38 per bbl on 14.09.2017. Rupee closed weaker at Rs. 64.08 per US$ on 15.09.2017 as compared to Rs. 64.07 per US$ on 14.09.2017. The table below gives details in this regard:
|Particulars||Unit||Price on September 15, 2017 (Previous trading day i.e. 14.09.2017)|
|Crude Oil (Indian Basket)||($/bbl)||54.58 (54.56)|
|Exchange Rate||(Rs/$)||64.08 (64.07)|
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