Mumbai, May 19 -- Petrol and diesel prices were hiked by about 90 paise per litre on Tuesday, marking the second increase in fuel rates in less than a week. The increase pushed petrol prices in New Delhi to Rs 98.64 per litre from Rs 97.77, while diesel rose to Rs 91.58 from Rs 90.67, according to industry sources. On Friday, petrol and diesel prices were raised by Rs 3 per litre on Friday for the first time in more than four years, as surging global crude prices following the Iran war forced state-run fuel retailers to pass on part of their mounting losses after months of holding rates steady through key state elections.

Published by HT Digital Content Services with permission from Capital Market....