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.

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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.