Petrol price has been slashed by 91 paise a litre and diesel by 84 paise a litre respectively. The revised prices came into effect from Sunday midnight.
In Delhi, petrol price will cost Rs 63.33 paise per litre, in Kolkata it would cost Rs 70.73 paise per litre, while in Mumbai and Chennai it would cost Rs 70.95 and Rs 66.05 paise respectively.
For Diesel, people will have to pay, Rs 52.51 in Delhi, Rs 57.08 in Kolkata, Rs 60.11 in Mumbai, and Rs 55.93 in Chennai.
The Indian Oil Corporation said in a statement that the decision has been taken in view of sliding global oil prices.