New Delhi: Price of petrol was today cut by Rs 1 a litre and diesel by Rs 2 per litre, the fourth reduction in rates since July.

Petrol will now cost Rs 60.09 a litre in Delhi from midnight as compared to Rs 61.09 a litre currently, said Indian Oil Corp (IOC). The price of diesel will cost Rs 50.27 per litre as against Rs 52.27.