Srinagar, May 19 -- New Delhi- Petrol and diesel prices were raised by nearly 90 paise per litre on Tuesday, marking the second increase in less than a week as state-run oil marketing companies sought to reduce mounting losses amid a sharp rise in global crude oil prices triggered by the Iran conflict.

With the latest revision, petrol in Delhi now costs Rs 98.64 per litre, up from Rs 97.77, while diesel has risen to Rs 91.58 per litre from Rs 90.67, according to industry sources.

The hike follows a Rs 3-per-litre increase announced on Friday, which was the first revision in fuel prices in more than four years.

The back-to-back increases come as global crude oil prices have surged by over 50 per cent since late February following US-Isr...