Last Updated : 28 January 2013 at 21:15 IST
India import price of Crude Oil rises to $110.64/bbl
Source :Commodity Online
In rupee terms also, the crude oil price increased to Rs 5957.96/bbl on 25.01.2013 as compared to Rs 5912.55/bbl on23.01.2013. This was due to price increase in dollar terms and rupee deprecation. Rupee dollar-exchange rate on 25.01.2013 was Rs 53.85/US$ against Rs 53.73/US$ on previous trading day of 23.01.2013.
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NEW DELHI (Commodity Online): Import price of crude oil in India has risen to 110.64/bbl on Friday as against $109.96/bbl on previous trading day. Prices have steadily gained in the past few weeks from $107.76 in the last fortnight of December to $109.08 in the first fortnight of January.
In rupee terms also, the crude oil price increased to Rs 5957.96/bbl on 25.01.2013 as compared to Rs 5912.55/bbl on23.01.2013. This was due to price increase in dollar terms and rupee deprecation. Rupee dollar-exchange rate on 25.01.2013 was Rs 53.85/US$ against Rs 53.73/US$ on previous trading day of 23.01.2013.
India is dependent on import of crude oil to meet bulk of its requirements. India’s oil import bill in terms of value has increased from Rs 409,077 crore in 2009-10 to Rs 726,386 crore in 2011-12. Higher consumption and rise in crude oil prices have adversely impacted current account deficit in recent times.
