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As per the PPAC, the Indian basket of crude oil averaged $111.86 per barrel between February 25 and March 29 - the immediate period after Russia's invasion of Ukraine sent oil on fire.
The Indian basket on June 9 touched USD 121.28, matching levels seen in February/March 2012, according to data available from the oil ministry's Petroleum Planning and Analysis Cell (PPAC), , Indian Crude Oil Basket, oil prices, Petroleum Planning and Analysis Cell (PPAC)
A weak rupee, surging crude prices and relentless foreign capital outflows further weighed on sentiment
The basket of crude oil that India buys has hit a decade high of $121 per barrel, but retail selling prices of petrol and diesel remain unchanged
At the interbank foreign exchange market, the local currency opened at 77.81 and witnessed an intra-day high of 77.79 and a low of 77.93 against the US dollar.