diff --git a/.envrc b/.envrc
index 8e5515ab1..b492df1b4 100644
--- a/.envrc
+++ b/.envrc
@@ -1,3 +1,3 @@
 export RELEASE_DIR=$PWD
 export SRC_DIR=$PWD/src/bosh_azure_cpi
-export PROJECT_RUBY_VERSION=2.7.2
+export PROJECT_RUBY_VERSION=2.7.3
diff --git a/src/bosh_azure_cpi/Gemfile.lock b/src/bosh_azure_cpi/Gemfile.lock
index ed7acac3a..7874cedae 100644
--- a/src/bosh_azure_cpi/Gemfile.lock
+++ b/src/bosh_azure_cpi/Gemfile.lock
@@ -41,18 +41,18 @@ GEM
     mini_portile2 (2.5.0)
     multi_json (1.15.0)
     multipart-post (2.1.1)
-    nokogiri (1.11.2)
+    nokogiri (1.11.3)
       mini_portile2 (~> 2.5.0)
       racc (~> 1.4)
     parallel (1.20.1)
-    parser (3.0.0.0)
+    parser (3.0.1.0)
       ast (~> 2.4.1)
     powerpack (0.1.3)
     public_suffix (4.0.6)
     racc (1.5.2)
     rainbow (3.0.0)
     rake (12.3.3)
-    rexml (3.2.4)
+    rexml (3.2.5)
     rspec (3.5.0)
       rspec-core (~> 3.5.0)
       rspec-expectations (~> 3.5.0)