The average price of Indian basket crude oil was estimated to reach 97.67 U.S. dollars per barrel in the financial year 2023. While Indian basket crude oil prices have fluctuated during the reported period, this figure significantly increased from the previous year’s average of 78.19 U.S. dollars. The average price of crude oil went up marginally around the financial year 2012, touching almost 112 U.S. dollars per barrel.
As the third-largest primary energy consumer globally, India relies on various sources to meet its energy demands. At the same time, a significant increase in primary energy consumption across various sources is projected for the coming decades, with renewables playing a vital role in the Indian energy transition.
Crude oil pricing of Indian basket from financial year 2009 to 2022, with an estimate for 2023
(in U.S. dollars per barrel)
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Ministry of Petroleum and Natural Gas (India). (July 25, 2023). Crude oil pricing of Indian basket from financial year 2009 to 2022, with an estimate for 2023 (in U.S. dollars per barrel) [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1013842/india-crude-oil-price-trend/
Ministry of Petroleum and Natural Gas (India). "Crude oil pricing of Indian basket from financial year 2009 to 2022, with an estimate for 2023 (in U.S. dollars per barrel)." Chart. July 25, 2023. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1013842/india-crude-oil-price-trend/
Ministry of Petroleum and Natural Gas (India). (2023). Crude oil pricing of Indian basket from financial year 2009 to 2022, with an estimate for 2023 (in U.S. dollars per barrel). Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1013842/india-crude-oil-price-trend/
Ministry of Petroleum and Natural Gas (India). "Crude Oil Pricing of Indian Basket from Financial Year 2009 to 2022, with An Estimate for 2023 (in U.S. Dollars per Barrel)." Statista, Statista Inc., 25 Jul 2023, https://www.statista.com/statistics/1013842/india-crude-oil-price-trend/
Ministry of Petroleum and Natural Gas (India), Crude oil pricing of Indian basket from financial year 2009 to 2022, with an estimate for 2023 (in U.S. dollars per barrel) Statista, https://www.statista.com/statistics/1013842/india-crude-oil-price-trend/ (last visited December 21, 2024)
Crude oil pricing of Indian basket from financial year 2009 to 2022, with an estimate for 2023 (in U.S. dollars per barrel) [Graph], Ministry of Petroleum and Natural Gas (India), July 25, 2023. [Online]. Available: https://www.statista.com/statistics/1013842/india-crude-oil-price-trend/
