Last week, we at Capital Mind had written about how Oil Prices had changed during 2014 , and how those changes affected movements of fuel prices in India. In that report, we had charted the movement of the Indian Basket price of Crude Oil in Dollar terms, as compared to that of Petrol and Diesel Prices. As a follow-up to that piece, we have updated the chart slightly, to now show the relative movements of Crude Oil prices in Rupee terms (Thanks for the suggestion, Piyush!). Here’s what the movements in the price of Crude Oil, in Dollar-terms and Rupee-terms, look like: From the chart we can infer that: In Rupee terms, the change in Crude Oil prices is more pronounced than in Dollar-terms (especially since July 2011 onwards). The widening gap between the $-rates and Rs-rates began in July 2011 before which the INR/USD rate was near Rs. 44 to the $. … (Read On…)
[via Capital Mind]
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