India today slashed petrol and diesel prices for the first time in 2021 after a sharp fall in global crude oil prices.
In the last week, WTI fell by $7 to $57 while Brent also lost $8 to sell at about $60 per barrel.
State-run oil marketing companies (OMCs) on Wednesday cut petrol and diesel prices by 18 paise and 17 paise respectively.
Prices of global crude oil are falling amid rising Covid-19 cases and reimposition of lockdowns in some European countries.
The U.S. also reported an increase in its inventory by over two million barrels.
After today’s cut, a litre of petrol in Delhi costs Rs 90.99 ($1.25) , down from Rs 91.17($1.26).
According to IndiaToday.com, petrol price also dropped in other major cities.
In Kolkata, it is (Rs 91.18), Mumbai (Rs 97.40), Chennai (Rs 92.95), Bengaluru (Rs 94.04), Hyderabad (Rs (Rs 94.61) and Jaipur (Rs 97.56).
Diesel price in Delhi has now come down to Rs 81.30, down 17 paise from yesterday.
It also dropped in other major cities including Kolkata (Rs 84.18) and Mumbai (Rs 88.42).
Diesel will sell at Rs 86.29 in Chennai, Rs 89.84 in Jaipur, Rs 86.21 in Bengaluru.