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Indian Basket Crude Price

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Indian Basket Crude

Mar 2020
33.36
   21.27 Dollar per Barrel
 
 
 
Average Monthly Price;   Source: PPAC
1 Year High:
71.00
(Apr 2019)
1 Year Low:
33.36
(Mar 2020)
Crude Oil Prices

Brent Crude

33.30
 
2.35
May 18, 2020

WTI Crude

31.83
 
2.39
May 18, 2020
 
 

OPEC Basket

28.43
 
0.22
May 19, 2020

Indian Basket

33.36
 
21.27
Mar 2020
Source: EIA, OPEC, PPAC

Chart of Indian Basket Crude Prices - Monthly/ Yearly

Source: Petroleum Planning & Analysis Cell

Indian Basket Crude Prices

Average monthly price of Indian Basket Crude for the month of March 2020 was 33.36 Dollar per Barrel. This represents a decrease in the price of Indian Basket Crude by 21.27 Dollar per Barrel from last month's average price of US$54.63/barrel in February 2020.

In the one year period, the price of Indian Basket Crude touched a high of 71.00 Dollar per Barrel in Apr 2019 and recorded a low of 33.36 Dollar per Barrel in Mar 2020.

Indian Basket Crude Price Comparision

Price Month
ago		 1 Year
ago		 5 Years
ago		 10 Years
ago
33.36
Mar 2020 		54.63
Feb 2020 		66.74
Mar 2019 		55.18
Mar 2015 		78.02
Mar 2010
Dollar per Barrel

Indian Basket Crude Monthly Price Trend

Indian Basket Crude
DATE PRICE CHANGE % CHANGE
Mar 2020 33.36 -21.27   38.93%
Feb 2020 54.63 -9.68   15.05%
Jan 2020 64.31 -1.19   1.82%
Dec 2019 65.50 +2.97   4.75%
Nov 2019 62.53 +2.83   4.74%
Oct 2019 59.70 -2.02   3.27%
Sep 2019 61.72 +2.37   3.99%
  (Dollar per Barrel) Source: PPAC

Indian Basket Crude Monthly Average Price Trend

Indian Basket Crude Monthly Average Price Trend Chart

Indian Basket Crude Yearly Average Price Trend

Indian Basket Crude Yearly Average Price Trend

Indian Basket Crude

The composition of Indian Basket of Crude represents Average of Oman & Dubai for sour grades and Brent (Dated) for sweet grade in the ratio of crude processed during previous financial year. It is used as an indicator of the price of crude imports in India and the average price of the Indian Basket Crude Oil is publised by Petroleum Planning & Analysis Cell (PPAC) every month.

The composition of Indian Basket of Crude processed in the country has over the years moved in favour of Oman & Dubai for sour grades and away from Brent (Dated) for sweet grade. In 2000-01 the ratio of Oman & Dubai crude vs Brent sweet crude processed in India was 57:43 and in 2017-18 this ratio stood at 77.38:27.62.

Chart of composition of Indian Basket of Crude

Volatility in Indian Basket Crude Prices

  Last 30 Days Last 6 Mths Last 1 Year
Min 33.36 33.36 33.36
Max 33.36 65.50 71.00
Average 33.36 56.67 60.68
Volatility    0.00% 19.43% 15.28%
(Dollar per Barrel)

  • The more we focus on using renewable fuels, the less we are dependent upon foreign oil.

  • ~ John M. McHugh

External Links

  1. Petroleum Planning & Analysis Cell (PPAC)
  2. U.S. Energy Information Administration (EIA)
  3. Organization of the Petroleum Exporting Countries (OPEC)
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Historical Price of
 in

Select Date

Indian Basket Crude
(Dollar per Barrel)

33.36

DATE PRICE   CHANGE
Mar 31, 2020     33.36      21.27
Feb 29, 2020     54.63        9.68
Jan 31, 2020     64.31        1.19
Dec 31, 2019     65.50        2.97
Nov 30, 2019     62.53        2.83
Oct 31, 2019     59.70        2.02
Sep 30, 2019     61.72        2.37
Aug 31, 2019     59.35        4.28
Jul 31, 2019     63.63        1.26
Jun 30, 2019     62.37        7.64
May 31, 2019     70.01        0.99
Apr 30, 2019     71.00        4.26
Mar 31, 2019     66.74        2.21
Feb 28, 2019     64.53        5.26
Jan 31, 2019     59.27        1.50
Dec 31, 2018     57.77        7.63
Nov 30, 2018     65.40      14.68
Oct 31, 2018     80.08        2.20
Sep 30, 2018     77.88        5.35
Aug 31, 2018     72.53        0.94
Jul 31, 2018     73.47        0.36
Jun 30, 2018     73.83        1.42
May 31, 2018     75.25        6.03
Apr 30, 2018     69.22        5.42
Mar 31, 2018     63.80        0.26
Feb 28, 2018     63.54        3.52
Jan 31, 2018     67.06        4.77
Dec 31, 2017     62.29        0.97
Nov 30, 2017     61.32        5.26
Oct 31, 2017     56.06        1.54