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Odishatv Bureau

The petrol and diesel prices on Monday remained mostly unchanged across Odisha after the Centre decided to reduce excise duty on fuel.

On May 21, the Centre had announced a cut in excise duty on petrol and diesel by Rs 8 and Rs 6 a litre, respectively. The move marked a reduction of petrol rates by Rs 9.5 per litre and diesel by  Rs 7 a litre in Odisha.

In Bhubaneswar, a litre of petrol costs Rs 103.54, while the diesel rate stands at Rs 95.09 per litre Monday.

Petrol is also currently retailed at Rs 103.54 per litre in Cuttack, while diesel is sold at Rs 95.10.

As per a fuel rate chart, petrol is being sold the highest in Malkangiri at 108.92. In Ganjam, petrol costs Rs 104.66 and in Sambalpur at Rs 103.80. Similarly, the rate of petrol is 103.73 in Bhadrak and Rs 107.79 in Koraput. 

India meets 80 per cent of its oil needs through imports. Retail rates are adjusted according to the global movement in crude price.

State-run oil refiners such as Indian Oil Corp, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates . Any changes in fuel prices are implemented with effect from 6 am every day.

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