A cut in petrol and diesel prices may not come immediately despite the sharp decline in global crude oil prices. Union Petroleum Minister Hardeep Singh Puri on Thursday explained the reason behind it during a presser. According to Puri, the state-run oil marketing companies (OMCs) are still refining expensive crude purchased during the peak of the West Asia conflict. He said any decision on reducing retail fuel prices would depend on whether international crude prices remain at current levels for the next two to three months.