The international crude oil price of Indian Basket was up 0.44% to USD 95.92 a barrel (bbl) on Sept. 16, 2014. This was higher than the price of USD 95.50 a bbl on Sept. 15, 2014.

In rupee terms, the price of Indian Basket increased to Rs 5,860.71 a bbl on Sept. 16, 2014 as compared to Rs 5,824.55 a bbl on Sept. 15, 2014.

Rupee closed stronger at Rs 60.10 a USD on Sept. 16, 2014 as against Rs 60.99 a USD on Sept. 15, 2014.

Oil companies did not cut diesel prices despite over recovery. Oil Marketing Companies (OMCs), under-recovery on high speed diesel (HSD) has been wiped off and now there is over recovery of Rs 0.35 a litre applicable for second fortnight of Sept. 16, 2014. This was Rs 0.08 a litre during first fortnight of September 2014.