Preheat the oven to 325 degrees.
In a spacious mixing bowl, combine oil, eggs, whole milk, lime zest, and lime juice. Cream the mixture for a solid 2 minutes.
In a larger bowl, combine sugar, flour, baking powder, baking soda, and salt. Stir this mixture into the egg mixture and gently fold it in.
Spray either two 9-inch or three 8-inch cake pans with nonstick cooking spray. Distribute the batter evenly into the baking pans. If using three 8-inch pans, bake for 20-26 minutes or until a toothpick inserted comes out clean. If opting for two 9-inch pans, bake for 30-36 minutes. Allow them to cool.