OMCs slash fuel prices by 15 paise per litre after a week’s break
Fuel consumers have finally been given some relief from high prices of petroleum products with oil marketing companies on Wednesday reducing the pump price of petrol and diesel after keeping it static for the past seven days.
Accordingly, petrol and diesel prices were cut by 15 paise per litre to Rs 101.34 and Rs 88.77 a litre respectively in Delhi. Petrol was priced at Rs 101.49 a litre and diesel Rs 88.92 a litre in Delhi on Tuesday. This price level was maintained for the last seven days as OMCs decided to wait and watch the developments in the global oil market before revising retail prices.
The latest cut had come in the wake of softening of oil prices on anticipation of rising production by main oil producers this month.
