The Petrol price has been hiked by 60 paise per litre and diesel by 50 paise excluding VAT. The new rates came into effect midnight Friday night.Petrol will now cost 73 rupees and 16 paise a litre in Delhi, 80 rupees and 96 paise in Kolkata, 82 rupees and 7 paise in Mumbai and 76 rupees and 48 paise in Chennai.Diesel will cost 55 rupees and 48 paise per litre in Delhi, 60 rupees and 9 paise in Kolkata, 63 rupees and 86 paise in Mumbai and 59 rupees and 17 paise in Chennai.In a statement, Indian Oil Corporation said, petrol price has been raised on account of hike of prices of crude oil in international market and depreciation of rupee.