Petrol price has been cut by 1 rupee and 82 paise a litre while diesel price hiked by 50 paise. The new rates came into effect midnight last night. Now, petrol costs 68 rupees and 51 paise per litre in Delhi, 71 rupees and 55 paise in Chennai, 76 rupees and 14 paise in Kolkata and 76 rupees and 41 paise in Mumbai.In Delhi, revised price of diesel is 58 rupees and 97 paise and in Chennai 62 rupees and 92 paise a litre. While in Mumbai it costs 67 rupees and 26 paise and in Kolkata consumers now have to pay 63 rupees and 81 paise. The rates of non-subsidized LPG has been reduced by 19 rupees per cylinder. An Indian Oil Corporation press release said, reduction in petrol price was mainly due to declining trend in the international petrol prices.