Petrol price cut by 91 p/l, diesel 84 p/l

Petrol price was on Sunday cut by 91 paise a litre, the seventh reduction since August, and diesel by 84 paise per litre, the third straight cut, as international oil rates continued to slump. Petrol and diesel price reduction will be effective midnight Sunday, Indian Oil Corp, the nation’s largest fuel retailer, announced here. In Delhi, petrol price will cost Rs 63.33 a litre as compared to Rs 64.24 per litre previously while in Mumbai the reduction will be 96 paise to Rs 70.95 per litre.  Diesel will cost Rs 52.51 a litre in Delhi from Monday as against Rs 53.35 currently while in Mumbai the price will be cut by 93 paise to Rs 60.11 per litre.