Petrol prices cut by Rs 3 per litre

New Delhi, April 30: For the third time in a month, Oil Marketing Companies (OMCs) on Tuesday slashed the price of petrol by Rs 3 per litre in line with the decline in international crude oil prices.

The new price will come into effect from midnight tonight and petrol prices in Delhi will now cost Rs 63.09 per litre.

After Wednesday's revision, prices stand as - New Delhi - Rs. 63.09 per litre; Mumbai - Rs. 69.73; Chennai - Rs. 65.90; Kolkata - Rs. 70.35.

The price of oil is trading above USD 94 per barrel as positive US economic data added to optimism for a rate cut in Europe.

Brent crude, which is used to price oil from the North Sea used by many US refiners, is also up 24 cents to USD 103.40 on the ICE Futures exchange in London.

Petrol price was cut by Re 1 per litre on 15 April.

Earlier petrol price was slashed by 85 paise a litre reduction in rates on April 2 and Rs 2 a litre decrease effected on March 16.

The March 16 cut after including VAT translated into a Rs 2.40 a litre reduction at pumps.

It was the steepest cut in nine months.