Petrol Price Cut by 63 Paise/Litre, Diesel by Rs 1.06/Litre

New Delhi: Petrol price was on Thursday cut by 63 paise per litre while diesel rate was lowered by Rs 1.06 a litre, on the back of a softening global oil market. Revised prices will take effect from the midnight of December 31 and January 1, 2016. After this revision, petrol will cost Rs 59.35 per litre in Delhi, as against Rs 59.98 currently, whereas a litre of diesel will cost Rs 45.03 as against Rs 46.09 until now, Indian Oil Corporation (IOC) said.   PTI