State-run Indian Oil Corp (IOC) on Wednesday hiked transport fuel prices, that of petrol marginally by 5 paise a litre, and of diesel by Rs 1.26, both at Delhi, with corresponding increase in other states, effective midnight."The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant increase in their selling price," IOC said announcing their fortnightly revision in fuel prices.Petrol per litre from Thursday will cost Rs 65.65 in Delhi, Rs 68.50 in Kolkata, Rs 70.23 in Mumbai and Rs 65.65 in Chennai.Similarly diesel per litre will cost Rs 55.19 in Delhi, Rs 57.39 in Kolkata, Rs 60.55 in Mumbai and Rs 56.78 in Chennai.