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Our Bureau

New Delhi, Sept. 11

Sept. 11

The Indian crude basket has also reflected a declining trend with the softening of international crude prices. The Indian basket stood at $63.77 on September 10.

It represents the average crude price paid by the Indian refiners and is calculated as the average price of Oman and Dubai crude for sour grade and price of brent (dated) for sweet crude in the ratio of 58:42 with effect from April 1, 2005.

On August 31, the basket stood at $66.61 per barrel and the average of April to date stood at $68.77 a barrel.

According to data available, the August average was a little over $70.84 per barrel, while the average for August 11 to 29 was at $69.89 a barrel.

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