Petrol price was today slashed by a marginal 4 paise a litre and diesel by 3 paise a litre. Acording to Indian Oil Corp (IOC) now petrol in Delhi would be available for 59.95 rupees per litre and diesel 44.68 rupees per litre. The reduction should have been 1.04 rupees per litre in petrol and 1.53 rupees in diesel because of a 4 dollar per barrel fall in international rates in the last fortnight. But the government on Sunday raised excise duty on petrol by 1 rupee per litre and that on diesel by 1.50 rupees.The third increase in excise duty in a month will get the government 3,200 crore rupees in additional revenue during the remainder of the current fiscal. The reduction in auto fuel prices today was the fifth cut in two months on back of softening global oil prices.