In the first reduction in rates in over a year, petrol price on Wednesday was cut by 18 paise per litre and diesel by 17 paise a litre

New Delhi: In the first reduction in rates in over a year, petrol price on Wednesday was cut by 18 paise per litre and diesel by 17 paise a litre as international oil prices tumbled to the lowest since early February.

Petrol price was cut to Rs 90.99 a litre in Delhi from Rs 91.17 per litre, according to a price notification of state-owned fuel retailers.

Petrol and Diesel

Diesel now comes for Rs 81.30 a litre in the national capital, down from Rs 81.47 previously.

Rates have been reduced across the country and vary from state to state depending on the local incidence of taxation (VAT).

Petrol and Diesel

This is the first reduction in fuel prices in over a year. Prices were last reduced on March 16, 2020.

Prices had gone up by a record Rs 21.58 per litre on petrol in the last one year. On diesel prices had increased by Rs 19.18 a litre.