State – owned oil marketing companies have hiked the petrol prices by 70 paise per litre. The new rates became effective from midnight last night. With this, petrol in the national capital will cost 68 rupees 48 paise per litre. However in Kolkata, the consumer have to pay 73 rupees 61 paise per litre while in Mumbai it will cost to 74 rupees 23 paise and in Chennai , the new rate is 73 rupees 16 paise per litre. A release issued by the Indian Oil Corporation Limited said that the increase in the rate was necessitated due to rising international oil prices