Petrol price cut by 56 paise per litre

State oil firms have slashed petrol rates marginally by 56 paise per litre in the wake of appreciation of value of rupee against the US dollar. The new retail prices of petrol in Delhi will be 67.90 rupees a litre, about 0.8% lower than current 68.46 rupees a litre. Talking to the reporters, Indian Oil Corporation Chairman RS Butola justified the cut.