The deceased were identified as P Kondaiah (21) and Nagaraju (18), they said.
The incident occurred last night when the youths, both belonging to Vakkalgadda village, were travelling on a motorbike to Repalle town in Guntur district, they said.
Their speeding vehicle slipped at a sharp turn near Mopidevi village, causing serious injuries to both, police said.
The duo was admitted to Avanigadda government hospital, where they succumbed to the injuries this morning, police said.
A case has been registered by Avanigadda police and further investigation is on, they said.