Brent Crude Oil Price History in Rupees and Dollars
Brent crude oil, the global benchmark, in US dollars per barrel from the U.S. Energy Information Administration (via FRED), and converted into rupees with the daily USD/INR rate. India imports most of its oil, so the rupee price is what matters here.
Brent crude in rupees per barrel
Month-end values, on a log scale (equal distances are equal percentage changes). Hover a year-end point for its value.
Long-run change
| Series | 1Y | 3Y | 5Y | 10Y | 20Y | 30Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Brent in ₹ | 77.8% | 12.5% | 14.2% | 13.6% | 7.4% | 9.1% | −91% | 25 Sep 2026 |
| Brent in US$ | 65.2% | 5.9% | 7.9% | 9.6% | 3.3% | 5.5% | −94% | 29 Sep 2026 |
Annualised (CAGR) for periods of a year or more, ending on each series' latest date. “n/a” means the series does not go back that far. Max fall: the largest fall from a previous peak over the whole history.
U.S. Energy Information Administration, via FRED (Federal Reserve Bank of St. Louis), series DCOILBRENTEU. Data 20 May 1987 to 29 Sep 2026. Rupee price: MFIC calculation, Brent (US$) × USD/INR on the same day.
Calendar years
show table
| Year | In ₹ | In US$ |
|---|---|---|
| 2026 to 25 Sep | 101.7% | 85.8% |
| 2025 | −13.6% | −17.7% |
| 2024 | −1.3% | −4.0% |
| 2023 | −5.7% | −6.2% |
| 2022 | 17.2% | 7.2% |
| 2021 | 56.4% | 50.8% |
| 2020 | −22.7% | −24.4% |
| 2019 | 36.8% | 34.0% |
| 2018 | −17.0% | −24.2% |
| 2017 | 14.1% | 21.4% |
| 2016 | 54.0% | 50.1% |
| 2015 | −30.5% | −33.8% |
| 2014 | −48.8% | −49.7% |
| 2013 | 12.0% | −0.8% |
| 2012 | 6.1% | 2.5% |
| 2011 | 38.3% | 15.9% |
| 2010 | 14.6% | 19.7% |
| 2009 | 107.7% | 117.5% |
| 2008 | −52.9% | −61.8% |
| 2007 | 42.0% | 58.9% |
| 2006 | −0.8% | 1.1% |
| 2005 | 50.1% | 44.5% |
| 2004 | 26.6% | 33.3% |
| 2003 | −10.1% | −5.4% |
| 2002 | 64.4% | 65.5% |
Year-end to year-end.
The deepest falls in oil (in ₹)
| Peak | Bottom | Fall | Months down | Back to peak | Months to recover | Events in the fall |
|---|---|---|---|---|---|---|
| Apr 2026 | Jul 2026 | −49.1% | 3 | not yet | — | — |
| Mar 2022 | May 2025 | −50.2% | 38 | Mar 2026 | 10 | RBI off-cycle rate hike; General election results 2024; Union Budget 2024; US tariff announcement |
| Aug 2013 | Apr 2020 | −91.2% | 80 | Mar 2022 | 22 | Rupee record low (2013); General election results 2014; Yuan devaluation; Brexit referendum result; and 9 more |
| Jul 2008 | Dec 2008 | −73.7% | 6 | Mar 2012 | 38 | Lehman Brothers bankruptcy; RBI cuts repo rate (GFC) |
| Aug 2006 | Jan 2007 | −38.9% | 5 | Nov 2007 | 10 | — |
| Sep 2000 | Nov 2001 | −54.0% | 14 | May 2004 | 30 | September 11 attacks |
| Oct 1996 | Dec 1998 | −57.4% | 26 | Aug 1999 | 8 | Asian financial crisis begins; Pokhran-II tests |
| Sep 1990 | Feb 1991 | −54.8% | 5 | Apr 1996 | 62 | — |
| Jan 1990 | Jun 1990 | −34.6% | 5 | Aug 1990 | 2 | — |
| Aug 1987 | Oct 1988 | −40.5% | 14 | Mar 1989 | 5 | — |
Falls of 30% or more from a previous high, in rupees.
How oil has moved with other assets
| Compared with | Correlation | Months |
|---|---|---|
| Nifty 50 | 0.09 | 245 |
| Gold (domestic, ₹) | 0.02 | 233 |
| USD/INR | 0.12 | 472 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Questions
- How much has crude oil cost in rupees?
- On 29 Sep 2026, Brent was US$113.96 a barrel, about ₹11,115 at that day's exchange rate (FRED data, MFIC conversion). Its largest fall in rupees from a previous high was −91.2%.
- Why convert oil prices to rupees?
- India pays for imported oil in dollars, so the rupee cost moves with both the oil price and the exchange rate. In some years a weaker rupee offset a fall in the dollar price.
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