Petrol price was hiked by 42 paisa a litre, the fourth increase in six weeks, and diesel rate was raised by Rs 1.03 a litre, the second hike in a fortnight.
The increase in rates, which were effective from last midnight, are excluding state levies and the actual hike will be higher, the oil companies announced.
Petrol will cost Rs 71.13 a litre from midnight as against Rs 70.60 currently. Similarly, a litre of diesel will be priced at Rs 59.02 as opposed to Rs 57.82 currently.
This is the fourth increase in petrol price in six weeks and the third in case of diesel in one month.
It said the movement of prices in the international oil market and foreign exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.