On Wednesday, the price of petrol was at Rs 72.42 per litre in Delhi, Rs 75.14 per litre in Kolkata, Rs 78.1 per litre in Mumbai and Rs 75.26 per litre in Chennai, according to Indian Oil Corporation's (IOC) website, iocl.com. (Also read: Fuel rates hiked for second straight day)

The rate of diesel was at Rs 65.82 per litre, Rs 68.23 per litre, Rs 69.04 per litre and Rs 69.57 per litre respectively. (Also read: How to find out today's petrol, diesel prices in other cities through SMS)

The domestic fuel prices are determined broadly by dollar-rupee exchange rate and global crude oil prices.

Wednesday's hike included, the petrol and diesel prices have been increased in seven out of nine days.

In Delhi, the price of petrol has been increased by a total 71 paise per litre, and that of diesel by 73 paise per litre, during this period.

The rupee gained by as much as 59 paise - or 0.82 per cent - against the US dollar on Wednesday. After opening higher at 71.49, the rupee rose to 71.19 against the greenback at the day's strongest point. It was last seen trading at 71.23 against the US currency.

Oil prices steadied as Middle East events kept investors nervous. Brent crude futures - the international benchmark for crude oil - dipped 0.26 per cent to $64.38 a barrel, having conceded about 65 per cent of their gains made after the weekend attack on Saudi Arabia's oil facilities.

State-run Hindustan Petroleum Corporation said on Monday that price of petrol and diesel at retail outlets might go up if the price of crude stays at current levels.

The weekend attack on key oil facilities in Saudi Arabia caused the worst disruption to world supplies on record.