Petrol price was today cut by Re 1 per litre, effective midnight tonight -- the third reduction in rates in one month. The price cut, which was made possible because of fall in international oil prices, excludes local sales tax or VAT. After including VAT, the reduction in price of petrol in Delhi comes to Rs 1.20 per litre and the fuel will cost Rs 66.09 per litre from midnight tonight against Rs 67.29.

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