Heavy reduction in petrol, diesel prices in India likely, as oil prices are inching closer to a 11-year-old low. The cut could be Rs 4-5 per litre although more should be done.
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$ 35.72 per barrel (bbl) on 11th December, 2015. This was lower than the price of US$ 36.65 per bbl on previous publishing day of 10th December, 2015.
In rupee terms, the price of Indian Basket decreased to Rs 2385.54 per bbl on 11th December, 2015 as compared to Rs 2447.95 per bbl on 10th December, 2015. Rupee-dollar exchange rate remained unchanged at Rs 66.79 per US$ on 11th December, 2015 as compared to 10th December, 2015.
