Petrol price has been cut by two rupees a litre and diesel by 50 paise including VAT. The new rates came into effect midnight last night. Petrol will now cost 61 rupees 20 paise a litre in Delhi, 66 rupees 50 paise in Kolkata, 66 rupees 23 paise in Mumbai and 61 rupees 46 paise a litre in Chennai. Diesel is now 44 rupees 45 paise a litre in Delhi, 48 rupees 23 paise in Kolkata, 49 rupees 51 paise in Mumbai and 45 rupees 56 paise a litre in Chennai.In a statement, Indian Oil Corporation said, prices have been reduced following easing of crude oil prices in the international market.