NEW DELHI: State-owned oil marketing companies (OMCs) incurred losses of almost Rs 74,781 crore on the sale of petrol, diesel, and liquefied petroleum gas (LPG) during April-June as global crude oil prices surged amid the Middle East conflict, Union petroleum minister Hardeep Singh Puri said on Thursday.

The average price of the Indian basket of crude fell to $68.86 a barrel, down more than 56% from a peak of $157.04 on March 23 after the outbreak of the war. | India News

Fuel prices might see a dip if international crude oil rates stay low for a few more weeks, according to Union Minister Hardeep Puri. Oil companies are currently using crude…