Petrol price has been hiked by 75 paise per litre and diesel by 50 paise a litre excluding VAT. The new rates will come into force from midnight tonight. Now for petrol, people will have to pay 72 rupees and 43 paise a litre in Delhi, 79 rupees and 55 paise in Kolkata, 79 rupees and 52 paise in Mumbai and 75 rupees and 68 paise in Chennai.

While, for Diesel, the consumer will have to pay 54 rupees and 34 paise per litre in Delhi, 58 rupees and 76 paise in Kolkata, 61 rupees and 42 paise in Mumbai and 57 rupees and 93 paise in Chennai.

In a statement, Indian Oil Corporation said, the price of petrol has been increased on account of increase in international prices of it.