State-owned fuel retailers have increased the price of petrol by Rs 2.19 a litre and diesel by 98 paise per litre, reported PTI. The hike for consumers is in keeping with the current international petrol and diesel prices and changes in the rupee-US dollar exchange rate, according to the Indian Oil Corporation said.

The new price of petrol in Delhi will be Rs 61.87 a litre and that of diesel will be Rs 49.31 a litre, effective from midnight on Tuesday. It currently costs Rs 59.68 to buy a litre of petrol and Rs 48.33 for a litre of diesel in the Capital. On March 17, the prices of petrol and diesel were hiked by Rs 3.07 a litre and Rs 1.90 a litre, respectively. While this is the second increase in the petrol prices this year, it is the fourth such increase in price of diesel.

Depending on the average oil price and the foreign exchange rate, the national retailers – IOC, Bharat Petroleum Corporation and Hindustan Petroleum Corporation – revise fuel rates on the 1st and 16th of every month. Their revision was due last week.