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New Delhi: Petrol prices have been cut by Rs 2 per litre effective from midnight yesterday, state-owned Indian Oil Corp (IOC) announced.
The prices of the fuel effective today will be Rs 68.34 in Delhi, Rs 75.84 in Kolkata, Rs 75.14 in Mumbai and Rs 71.41 in Chennai.
IOC sources had Thursday indicated the likelihood of a petrol rate cut in view of falling international crude oil prices.
Since prices were last revised, international petrol prices have come down from $131 to $120 per barrel (159 litres).
The petrol price was increased by Rs 1.50 a litre on February 16 and by a further Rs 1.40 per litre on March 2.