ProMASS: Jan 17, 2017: The international crude oil price of Indian Basket has declined from US$ 54.29 per barrel on January 13 to US$ 53.78 per barrel on January 16, 2017. Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas released this information today.
In rupee terms, the price of Indian Basket decreased to Rs. 3665.58 per barrel on 16.01.2017 as compared to Rs. 3704.29 per bbl on 13.01.2017. Rupee closed stronger at Rs. 68.16 per US$ on 16.01.2017 as compared to Rs. 68.23 per US$ on 13.01.2017.
Notably, prices of petrol and diesel were hiked by 42 paisa and Rs 1.03 respectively on January 15. With the addition of State levies actual hikes were more than these amounts. Such an increase in petrol price is the fourth increase in last six weeks and the third in case of diesel in one month.
