(Rptng, correcting headline, para 1, line 2) New Delhi, Apr 15 (UNI) State-owned oil marketing companies have slashed retail price of petrol and diesel by Rs 0.74 and Rs 1.3 a litre, respectively. The revised prices will be effective from midnight tonight. India’s largest fuel retailer today said it has reduced retail price of petrol by Rs. 0.74/litre at Delhi (including state levies) with corresponding price revision in other states. 'With this change, the price of petrol in Delhi will become Rs 61.13/litre,' IOC said in a statement. Meanwhile, IOC said it has also slashed retail price of diesel by Rs. 1.30/litre at Delhi (including State levies) with corresponding price revision in other states. With this change, the price of diesel in Delhi will become Rs. 48.01/litre. “The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” the statement clarified. “The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” it added. HPCL and BPCL follow IOC’s lead in fuel price revision. UNI NM AE SB 1852