A Oneindia Venture
News Personal finance Gold rates Silver rates Mutual funds IPO MSME
Gold Rates
Silver Rates
Platinum Rates
Fuel Price
Holidays
Banking
Lottery
Calculators
Savings Scheme
Get Updates
Get notified about market trends, financial advice, and investment tips!
English हिन्दी ಕನ್ನಡ മലയാളം தமிழ் తెలుగు
Sensex 73,319.55 +0.25% ↑ Nifty 22,713.10 +0.15% ↑ 22k Gold ₹ 13,835/gm Silver ₹ 2,50,000/kg Petrol ₹ 103.50 Diesel ₹ 90.03 LPG ₹ 912.50 Crude Oil $ 109.24 USD ₹ 92.71
Sensex 73,319.55 +0.25% ↑ Nifty 22,713.10 +0.15% ↑ 22k Gold ₹ 13,835/gm Silver ₹ 2,50,000/kg Petrol ₹ 103.50 Diesel ₹ 90.03 LPG ₹ 912.50 Crude Oil $ 109.24 USD ₹ 92.71
Home News Business
Gaining rupee may push petrol prices lower
By
Add as a preferred source on Google

rupee
INR
92.710United States Dollar
The gaining rupee is likely to push petrol prices at the retail level lower. The crude oil of the Indian basket is down to Rs 6307 per barrel as on March 27, from Rs 6523 per barrel for the pricing fortnight February 27 to March 12, 2014.

A fall in the India crude basket in rupee terms helps to push prices lower at the retail by the oil marketing companies, namely HPCL, BPCL and IOC.

One reason why the crude oil of the Indian basket has fallen in rupee terms is the sharp appreciation in the rupee.

The rupee has gained from levels of 62 on Feb 27 to the current level of 59.91 against the dollar.

This has translated in gains for the India crude basket which could mean lower prices at the petrol pumps. Check rupee rates here

GoodReturns.in

Share This Article
Story first published: Saturday, March 29, 2014, 9:57 [IST]
See More On: indian crude basket, ioc, bpcl, hpcl

More From GoodReturns

Notifications
Settings
Clear Notifications
Notifications
Use the toggle to switch on notifications
  • Block for 8 hours
  • Block for 12 hours
  • Block for 24 hours
  • Don't block
Gender
Select your Gender
  • Male
  • Female
  • Others
Age
Select your Age Range
  • Under 18
  • 18 to 25
  • 26 to 35
  • 36 to 45
  • 45 to 55
  • 55+
Sign Out