State-run oil companies on Tuesday reduced the price of petrol by Rs 3 per litre, without taxes, over falling international prices.
The cut, the fourth one since March, is the highest in five years and the biggest one since the fuel´s price was deregulated by the government in 2010.
After the revision effective from Wednesday, prices stand in New Delhi at Rs 63.09 per litre; Mumbai - Rs 69.73; Chennai - Rs 65.90; Kolkata - Rs 70.35.
The price of petrol was last revised on April 15, when it was reduced by Re 1 per litre without taxes.
The reduction comes amid falling international oil prices that have declined from $116.61 per barrel to $107 a barrel, since the last domestic price change.
The price of non-subsidised LPG has been cut by Rs 54 per cylinder effective midnight, media reports said.
The price before the revision was Rs 901 per cylinder in Delhi, which will be reduced to Rs 847.