Petrol price has been hiked by Rs 3.96 a litre and diesel by Rs 2.37 per litre including the Value added Tax. The new rate came into effect from last midnight.State-owned fuel retailers Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corp have revised petrol and diesel prices on average imported cost and rupee-dollar exchange rate in the previous fortnight and in view of sharp increase in the international prices of the two products.Now, petrol will cost Rs 63.16 per litre in Delhi, Rs 70.44 in Kolkata, Rs 70.84 in Mumbai and Rs 66.08 in Chennai. For diesel, the consumer will have to pay Rs 49.57 for a litre in Delhi, Rs 54.17 in Kolkata, Rs 56.87 in Mumbai and Rs 52.76 in Chennai.