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<h1>Crude Oil Price for Indian Basket Drops to $111.79 per Barrel on October 17, 2012; Rupee Strengthens.</h1> The international crude oil price for the Indian Basket decreased to US$ 111.79 per barrel on October 17, 2012, down from US$ 112.45 per barrel on the previous day. In rupee terms, the price fell to Rs 5,896.92 per barrel from Rs 5,939.61 per barrel. This decline was attributed to a drop in crude oil prices in dollar terms and was supported by the appreciation of the rupee, with the exchange rate improving to Rs 52.75 per US dollar from Rs 52.82.
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