New Delhi, May 16 -- After almost four years, the Indian oil marketing companies (OMCs) on Friday declared a price hike of Rs.3 per litre in diesel and petrol costs, as the West conflict plunged petroleum costs to over $100 per barrel.

Global crude oil prices have surged more than 50 per cent since US-Israeli strikes on Iran on February 28 and Tehran's subsequent retaliation that disrupted energy flows through the Strait of Hormuz.

Petrol price in the national capital has been increased to Rs.97.77 per litre from Rs.94.77, while diesel now costs Rs.90.67 against Rs.87.67 per litre previously

Petrol and diesel prices are now at their highest since May 2022. Rates vary across states due to differences in value-added tax.

CNG prices in c...