New Delhi, July 1 (TIWN): State-run Indian Oil Corp (IOC) has cut the price of transport fuel effective on Friday by under a rupee each, of petrol by 89 paise a litre and of diesel by 49 paise, both at Delhi with corresponding decrease in other states.

Making its previous fortnightly revision in fuel prices on June 16, IOC had hiked prices of petrol marginally by 5 paise a litre, and of diesel by Rs 1.26, both at Delhi, with corresponding increase in other states.

Petrol per litre from Friday costs Rs 64.76 in Delhi, Rs 67.79 in Kolkata, Rs 69.32 in Mumbai and Rs 64.24 in Chennai.

Similarly, diesel costs Rs 54.70 in Delhi, Rs 56.89 in Kolkata, Rs 60 in Mumbai and Rs 56.25 in Chennai.

Amid the recent fluctuation in global crude oil prices the Indian basket of crude closed trade on Thursday at $46.48 a barrel, as per official data.