Amid the recent fluctuation in global oil prices, state-run Indian Oil Corp (IOC) cut the price of transport fuels on Friday effective from midnight, of petrol by Rs 2.25 a litre and of diesel by 42 paise, both at Delhi, with corresponding decrease in other states.Making its previous fortnightly revision in fuel prices on the first of the month, IOC had cut both fuel prices by under a rupee.Petrol per litre from Saturday will cost Rs 62.51 in Delhi, Rs 66.03 in Kolkata, Rs 67.11 in Mumbai and Rs 62.00 in Chennai.Similarly, diesel will cost Rs 54.28 in Delhi, Rs 56.48 in Kolkata, Rs 59.60 in Mumbai and Rs 55.82 in Chennai.The Indian basket of crude oils closed trade on Thursday at $43.79 a barrel, as per official data.