PPAC, the Petroleum Planning and Analysis Cell, today revealed through its publication that average price of crude oil to India through all sources on 15/12/2014 was USD 60.10 per bbl. PPAC, that works under Petroleum and Natural Gas Ministry, had earlier computed the crude oil price to Indian basket as $60.38 on 12/12./2014.
International crude oil has become cheaper but Indian currency has become weaker
In terms of Indian currency, the international crude oil price to Indian basket as published on 15/12/2014 comes to Rupees 3765.27/bbl. This price per barrel stood at Rupees 3782.62/bbl on 12/12/2014. In the same period, Indian Rupee has become weaker against the US dollar as its value depreciated from Rupees 62.44 per USD on 12/12/2014 to Rupees 62.65 per USD on 15/12/2014.
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About Sanjay Tandon
Sanjay Tandon is a graduate engineer from IIT Varanasi. He has been writing as a freelancer for many years. He loves to write on various niches. He is passionate about politics and economy and spends his free time watching news channels. He is also an expert on relationships.