Diesel prices hiked by Rs1.26 per litre, petrol to cost 5 paise more

State-owned oil marketing companies have announced a hike in the price of diesel by 2.3 per cent and that of petrol by 0.08 per cent, in line with changes in global fuel prices.

The revised rates are effective from midnight of Wednesday-Thursday, Indian Oil Corp (IOC), the country's biggest fuel retailer, stated in a release.

India's three state-run oil companies, IOC, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd, adjust retail prices of fuels in concert.

"The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant increase in their selling price," IOC said announcing their fortnightly revision in fuel prices.

A litre of petrol will cost Rs65.65 in Delhi, Rs68.50 in Kolkata, Rs70.23 in Mumbai and Rs65.65 in Chennai.

Similarly diesel per litre will cost Rs55.19 in Delhi, Rs57.39 in Kolkata, Rs60.55 in Mumbai and Rs56.78 in Chennai.