Petrol price cut by 74 paisa, diesel by Rs 1.30 a litre

Petrol price was today slashed by 74 paise and diesel by Rs 1.30 a litre including VAT. The new rate will come into effect from midnight tonight. With this now, petrol will cost Rs 61.13 in Delhi, Rs 64.90 in Kolkata, Rs 65.63 in Mumbai and Rs 60.58 in Chennai. For diesel, the consumer will have to pay Rs 48.01 per litre in Delhi, Rs 50.48 in Kolkata, Rs 53.49 in Mumbai and Rs 48.76 in Chennai. In a statement, Indian Oil Corporation said, the international prices of petrol and diesel and rupee- dollar exchange rate warrant a decrease in petrol and diesel prices.