Petrol price has been slashed by 32 paise per litre and diesel by 85 paise. The new rate will come into effect from midnight tonight. Now, petrol will cost Rs 59.03 a litre in Delhi, Rs 64.87 in Kolkata, Rs 66.9 in Mumbai and Rs 59.45 in Chennai. <br/><br/>For diesel, the consumer will have to pay Rs 44.18 in Delhi, Rs 48.07 in Kolkata, Rs 51.25 in Mumbai and Rs 45.36 in Chennai.The Indian Oil Corporation in a statement, said the decision has been taken in view of decrease in the prices of petrol and diesel in international market and changes in rupee- dollar exchange rate. This was the fourth reduction in rates in six weeks on the back of softening global oil prices.