Petrol price has been cut by 80 paise a litre while diesel by one rupee and 30 paise per litre in Delhi including state levies. The new rates will come into effect from midnight tonight. However, the corresponding prices of petrol and diesel in other states will vary according to the levies charged there. With this, now petrol will cost Rs 59.20 a litre in Delhi, Rs 66.81 in Kolkata, Rs 66.69 in Mumbai while it will be Rs 61.90 per litre in Chennai. On the other hand , the diesel will cost Rs 47.20 in Delhi, Rs 52.08 in Kolkata, Rs 54.26 in Mumbai and Rs 50.21 in Chennai. Indian Oil Corporation in a statement said, the prices have been revised in view of the downward trend of prices of diesel and petrol in the international market.