Petrol price has been cut by Rs. 2.41 per litre and diesel by Rs. 2.25 including VAT.The new rate will come into force from Friday midnight.Now, Petrol will cost Rs. 64.24 per litre in Delhi, Rs. 71.68 in Kolkata, Rs. 71.91 paise in Mumbai and in Chennai it will be Rs. 67.1 per litre.For Diesel, people will have to pay, Rs. 53.35 a litre in Delhi, Rs. 57.95 in Kolkata, Rs. 61.4 in Mumbai and Rs. 56.84 in Chennai.In a statement, Indian Oil Corporation said that the decision has been taken in view of continued downtrend in the international prices of both Petrol and Diesel.