Petrol price has been cut by one rupee per litre excluding VAT. The new rate came into force midnight last night. Now, petrol will cost 66 rupees and 65 paise per litre in Delhi, 74 rupees and 21 paise in Kolkata, 74 rupees 46 paise in Mumbai and 69 rupees 59 paise a litre in Chennai.

In a statement, Indian Oil Corporation said that the decision has taken in view of decline in international crude prices.