Petrol price hiked by Rs 3.38 per litre, diesel goes up by Rs 2.67

NEW DELHI: Petrol price was on Wednesday hiked by a steep Rs 3.38 per litre and diesel by Rs 2.67 a litre, reversing a two-month declining trend.

Petrol will cost Rs 63.47 a litre in Delhi from midnight tonight, up from Rs 60.09 a litre, said Indian Oil Corp, the nation's largest fuel retailer.

Similarly, a litre of diesel will cost Rs 52.94 a litre as against Rs 50.27.

The hike in fuel price, necessitated by a 13 per cent rise in international oil rates in the last fortnight, comes after four reductions.