Indian crude basket price of $ 38 a barrel on Thursday exceeded. Oil prices are likely to increase. Strengthening of the rupee against the dollar has lost a little pressure on the oil companies.

According to data released by the oil ministry on Thursday the price of Indian basket of crude oil per barrel on Wednesday, compared to $ 1.95 to $ 38.05 per barrel by about 5 per cent has been expensive. However, the 0.7 per cent growth witnessed in the rupee. With the help of appreciation in rupee decline in the Indian rupee against the dollar basket of crude oil has dropped. According to the oil ministry on Thursday, crude oil basket was at 2545 per barrel. 4.68 per cent, as compared with the previous session witnessed.

Crude prices continued to rise on Wednesday as oil companies increase prices of petrol and diesel had. Similarly, if crude prices continued to rise in March prices at the end of the review would be no hope. The rise in prices is possible.

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