Petrol price today was cut by 18 paise per litre and diesel rate by 17 paise a litre as international oil prices tumbled to the lowest since early February.

This has been the first reduction in petrol and diesel rates in over a year.

Petrol price was cut to Rs 90.99 a litre in Delhi from Rs 91.17 per litre on Wednesday, according to a price notification of state-owned fuel retailers. Diesel now comes for Rs 81.30 a litre in the national capital, down from Rs 81.47 previously.

The rate reduction followed international oil prices tumbling to the lowest since early February as the second wave of COVID-19 infection clouded the prospects for a speedy recovery in consumption.