The prices of petrol and diesel were increased on Saturday for the third time in less than 10 days. This came as global oil rates remain high amid the conflict in West Asia.In Delhi, the price of petrol increased by 87 paise per litre. It will now cost Rs 99.51 instead of Rs 98.64. Diesel rates were hiked by 91 paise to reach Rs 92.49 per litre from Rs 91.5.Petrol rates were hiked by 94 paise per litre in Kolkata, to reach Rs 110.6 from Rs 109.7. Diesel also increased by 95 paise to Rs 97 per litre.Mumbai saw petrol increase by 90 paise to Rs 108.4 per litre and diesel by 94 paise to Rs 95 per litre.In Chennai, petrol prices rose by 82 paise to Rs 105.3 per litre. The price of diesel was hiked by 87 paise to Rs 96.9 per litre.On May 15, prices of both retail fuels were increased by around Rs 3 per litre in the country. Oil marketing companies hiked the rates again on May 19. The increase comes as oil marketing companies face mounting pressure with global crude prices continuing to trade above the $100-per-barrel mark.Despite some relief, the benchmark Brent crude traded at $103 a barrel on Friday, after rising to $106 early in the session. The price of Brent was $78 per barrel on February 27, a day before the conflict started.India imports 88% of its crude oil needs and about half of its natural gas requirement. This mostly comes through the Strait of Hormuz, which has been effectively blocked due to the conflict in West Asia.On May 11, the Union government ruled out any immediate bailout package for state-run oil companies despite losses linked to the crisis in West Asia.The clarification had come as concerns grew about under-recoveries, the gap between the cost of producing fuels such as petrol, diesel and liquefied petroleum gas and their retail selling prices.Union Petroleum Minister Hardeep Singh Puri said on May 10 that oil companies were facing under-recoveries of about Rs 2 lakh crore, with losses of up to Rs 1 lakh crore projected in the current quarter.Puri had said that oil companies were purchasing crude oil, gas and liquified petroleum gas at elevated international prices while continuing to sell fuels at unchanged retail rates to shield consumers, leading to losses of up to Rs 1,000 crore a day.