India set to save Rs 1.8 lakh crore on oil imports after global price dip

India is set to save significantly on its crude oil and LNG import bill, potentially reaching Rs 1.8 lakh crore, due to declining global energy prices. While upstream oil companies may see reduced profits, OMCs are expected to maintain healthy margins. Lower LPG under-recovery and government compensation are expected to support the profitability of downstream companies.