Petrol, diesel prices hiked for second time in a week; rates increased by nearly 90 paise

Petrol prices today: Petrol and diesel prices were increased by 90 paise per litre on Tuesday, the second increase in less than a week, reported PTI.

Petrol price was hiked to Rs 98.64 a litre from Rs 97.77 per litre in the national capital. Diesel now costs Rs 91.58 a litre against Rs 90.67 previously, according to PTI's industry sources.

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Last Friday, the government raised petrol and diesel prices for ‌the first time in four years by Rs 3 ⁠per litre to recoup some of the losses incurred due to higher global crude oil prices.

In Delhi, petrol now retails at Rs 98.64 per litre, up by 87 paise, while diesel is priced at Rs 91.58 per litre, higher by 91 paise.

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Mumbai saw petrol rise by 91 paise to Rs 107.59 per litre and diesel by 94 paise to Rs 94.08 per litre.

Kolkata recorded the steepest hike in petrol at 96 paise to Rs 109.70 per litre, while diesel prices rose by 94 paise to Rs 96.07 per litre.

In Chennai, petrol prices rose by 82 paise to Rs 104.49 per litre, and diesel by 86 paise to Rs 96.11 per litre.

The world's third-biggest importer and consumer of oil is one of the last major economies to raise retail fuel prices after disruptions to shipping through the Strait of Hormuz waterway by the war ‌started by U.S.-Israeli attacks on Iran.

Global oil prices have spiked to more than $120 a barrel, before ⁠pulling back slightly.

State-run Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp, which together control more than 90% of a network of 103,000 fuel stations, tend to set prices in tandem.