New Delhi: Petrol and diesel prices have been hiked by Rs 1.06 per litre and Rs 2.94 a litre respectively, with effect from Sunday.

Petrol in Delhi will now cost Rs 62.19 per litre as against Rs 61.13. Similarly, a litre of diesel will cost Rs 50.95 compared to Rs 48.01, till Saturday, April 30.

The hike comes on back of Rs 0.74 per litre cut in petrol price and diesel by Rs 1.30 a litre on April 16 

State-owned fuel retailers IOC, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise rates of the fuel on 1st and 16th of every month based on the average oil price and the foreign exchange rate in the preceding fortnight.