State-owned oil marketing companies (OMCs) on Wednesday cut prices of petrol and diesel for the first time this year, as crude oil costs fell to their lowest levels since early February. OMCs cut petrol price by 18 paise to Rs 91 per litre and diesel by 17 paise to Rs 81.3 per litre in Delhi.
The cut is the first change in petrol and diesel prices after a 24-day halt in revisions by OMCs. This is the first reduction in prices since September 2020, with key state elections set to be held in March and April. Prior to the halt in revisions, there had been a steady rise in petrol and diesel prices,
