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The price of basket of crude oil imports surged to USD 100.17 a barrel on Monday, the highest ever, official sources said.
With the spike in oil prices, the losses of public sector oil companies on sale of petrol, diesel, kerosene and LPG have touched Rs 360 crore a day.
The Indian basket of crude oil has averaged USD 98.46 a barrel in March, against February average of USD 92.37 a barrel.
The current year average at USD 77.98 a barrel is a significant jump over USD 62.46 a barrel average in 2006-07.
In international markets, crude oil prices rose to an all-time high of over USD 108 a barrel due to a weakening dollar, which fell the most against major currencies on Monday.

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India is paying about $2 more per barrel compared to other European nations to the oil producing Gulf nations. We should try to negotiate for price parity
When petrol prices in India are higher then the USA, but still Amercan oil companies are making record profit. How come?
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