Lower crude oil prices could reduce under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
In the global commodities markets, Brent for September 2018 settlement was up $1.25 at $74.65 a barrel. The contract had fallen $5.46 a barrel or 6.92% to settle at $73.40 a barrel during the previous trading session.
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