The prices of petrol and diesel have been cut by two rupees per litre, including VAT. The new rate came into effect midnight last night. Now, petrol will cost 61 rupees and 33 paise per litre in Delhi, 68 rupees and 65 paise in Kolkata, 68 rupees and 86 paise in Mumbai and 63 rupees and 94 paise in Chennai.

For diesel, consumers will have to pay 50 rupees and 51 paise a litre in Delhi, 55 rupees in Kolkata, 57 rupees and 91 paise in Mumbai and 53 rupees and 78 paise in Chennai.

In a statement, Indian Oil Corporation said that the decision has been taken in view of the continued downtrend in the international prices of petrol and diesel.