As per the practice of revising rates every fortnight, petrol price revision is due today and if oil ministry approves the increased price will come into effect from June 16, sources said.
Petrol price was last hiked by 75 paisa per litre and diesel by 50 paisa per litre on May 31.
State owned oil firms had been in January authorised to raise diesel prices by up to 50 paisa per litre every month till entire losses on the fuel are wiped out.
Petrol prices in Delhi is currently at Rs 63.99 a litre.
The Indian rupee ended a tough week Friday that saw the currency slump to a record low as part of a broader regional market sell-off.
The Rupee fell 0.8 per cent for the week, its sixth consecutive week loss, having hit a record low of 58.99 on Tuesday.