Indian Basket

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Indian Basket price vs Brent and Dubai (Apr 2000 to Dec 2018).

Indian Basket (IB), also known as Indian Crude Basket, is weighted average of Dubai and Oman (sour) and the Brent Crude (sweet) crude oil prices. It is used as an indicator of the price of crude imports in India and Government of India watches the index when examining domestic price issues.[1]

Methodology for calculation[edit]

Indian Basket is representation of derived basket of crude oils comprising sour (Dubai and Oman) and sweet (Brent) processed in Indian oil refineries. During the year 2016-2017, the ratio was 72.38 : 27.62 (Dubai : Brent) and during the year 2017-2018, the ratio was 74.77 : 25.23 (Dubai : Brent). The Indian Basket is weighted average of daily prices and is updated daily on the website of the Petroleum Planning and Analysis Cell of the Ministry of Petroleum and Natural Gas.[2][3]

Indian Basket prices[edit]

Year Price Comments
2000-2001 $26.92 [4]
2001-2002 $22.55
2002-2003 $26.60
2003-2004 $27.98
2004-2005 $39.21
2005-2006 $55.72
2006-2007 $62.46
2007-2008 $79.25
2008-2009 $83.57
2009-2010 $69.76
2010-2011 $85.09
2011-2012 $111.89
2012-2013 $107.97
2013-2014 $105.52
2014-2015 $84.16
2015-2016 $46.17
2016-2017 $47.56
2017-2018 $56.43
2018-2019 $69.88 [5]

See also[edit]

References[edit]

  1. ^ "What is Indian Crude Basket?". indianeconomy.net. Retrieved 19 August 2017.
  2. ^ "Historic prices". Ministry of Petroleum and Natural Gas. Retrieved 19 August 2017.
  3. ^ "Indian Crude oil Basket". www.thinkomania.com. Retrieved 19 August 2017.
  4. ^ "Yearly prices". www.indiaenergy.gov.in. Retrieved 3 February 2019.
  5. ^ https://www.ppac.gov.in/content/149_1_PricesPetroleum.aspx

External links[edit]