NEW DELHI: State-run Indian Oil Corporation on Sunday announced a hike in the price of petrol by 36 paise a litre and of diesel by 87 paise at Delhi, effective midnight. With this hike, petrol in Delhi will now cost Rs. 61.06/litre, while diesel will come at Rs. 46.80/litre.

The petrol and diesel rates shall experience a corresponding increase in other states, the announcement said.

The oil marketer said the price of petrol per litre from Monday will be Rs.61.06 in Delhi, Rs.66.39 in Kolkata, Rs.68.13 in Mumbai and Rs.61.38 in Chennai.

Diesel will cost Rs.46.80 a litre in Delhi, Rs.50.29 in Kolkata, Rs.54.04 in Mumbai and Rs.48.00 in Chennai.

In the previous round on November 7, petrol and diesel prices were not increased following government’s decision to hike excise duty by Rs 1.60 per litre and 40 paise a litre respectively as state-owned oil companies decided to absorb the raise for the time being.

In the last review, oil companies had cut petrol prices by 50 paise but left diesel unchanged.

"The current level of international product prices of petrol and diesel and rupee-dollar exchange rate warrant an increase in prices, the impact of which is being passed on to the consumers with this price revision," Indian Oil said in a statement.

Every fortnight, fuel retailers review petrol and diesel prices and adjust local prices to the global rates of the products.