The steepest reduction in nine months will be effective from Friday midnight. <img alt="Petrol prices" src="http://images.mid-day.com/2013/mar/Petrol-prices.jpg" style="width: 500px; height: 599px;" /> File pic The prices of the fuel effective March 16 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 on Thursday indicated the likelihood of a petrol rate cut in view of falling international crude oil prices. Petrol price was hiked by Rs 1.40 per litre on March 2.

There's some good news. After hiking petrol prices, Oil Marketing Companies (OMCs) announced that petrol prices would be slashed by Rs 2 across the country, giving much-needed relief to consumers

Petrol prices reduced by Rs 2

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Petrol prices reduced by Rs 2

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