Indian Oil Corporation (IOC) today decided to cut Petrol price by two rupees a litre. The new rate will be applicable from midnight . With this petrol in New Delhi will cost 68 rupees 34 paise per litre, in Mumbai 75 rupees 14 paise per litre and in Chennai 71 rupees 41 paise per litre. While, the consumer in Kolkata will have to pay 75 rupees 84 paise a litre and the new rate in Bengaluru will be 75 rupees 26 paise. In a statement the IOC said that decision has been taken in view of decrease in the international crude oil prices.