Price of petrol and diesel has been raised by ₹3.07 and ₹1.90 per litre respectively. The change in price is set to take effect from 12pm tonight. The prices were last revised on the day of the Union Budget on February 29, when the price was reduced. Now, petrol will cost ₹59.68 per litre in Delhi while diesel will lighten the pockets by ₹48.33 a litre. Indian Oil Corporation(IOC) said in a statement that global crude oil prices and Indian rupee-US dollar exchange rates are the reason for the hike.