New Delhi, June 8 -- India's state-run oil marketing companies (OMCs) have reduced the losses on sale of petrol and diesel below market rates to Rs.6 and Rs.30 per litre, respectively, after the recent price increases.

The daily under-recovery for OMCs, including losses on liquefied petroleum gas (LPG) sales, is in the range of Rs.600-700 crore, Praveen Khanooja, additional secretary in the ministry of petroleum and natural gas, said at a media briefing in the national capital on Monday.

The ongoing war in West Asia, where Iran and Israel once again traded air strikes following the 8 April ceasefire, has disrupted global oil supplies, leading to a surge in energy prices.

At a time when global LPG prices have soared and the country is f...