New Delhi, May 19 -- India's oil marketing companies (OMCs) increased fuel prices for the second time in a week on Tuesday, raising petrol and diesel prices by about 90 paise per litre on Tuesday. This follows a Rs.3 per litre hike implemented on 15 May.

According to data from Indian Oil Corp Ltd, petrol in the national capital rose 87 paise to Rs.98.64 per litre, while diesel climbed 91 paise to Rs.91.58. Other major metros saw similar increases:

Price hikes have been on the anvil for sometime now, with retail rates kept stable since the outbreak of the Iran war, even as crude prices hit a multi-year high of $126 per barrel on 25 April. Iran's subsequent blockade of the Strait of Hormuz and the US's naval blockade of Iran have choked g...