Government-owned oil marketing companies have decided to reduce the price of petrol between 1 rupee, 89 paise and 2 rupees, 38 paise per litre. The reduced price will come into effect midnight tonight. Petroleum Minister Dharmendra Pradhan disclosed this in a tweet yesterday. At present, Petrol costs 72 rupees, 51 paise per litre in Delhi. Chairman of Indian Oil Corporation, B Ashok had on Tuesday said that petrol price is likely to be cut on Independence Day because of the softening of crude oil prices in the international markets.