The BJP on Tuesday defended the 90-paise hike in petrol and diesel prices, triggered by the West Asia conflict and disruption in the Strait of Hormuz, saying the increase is among the lowest anywhere in the world outside heavily subsidised Gulf economies.

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 after state-run oil firms ended a nearly four-year freeze on revisions.