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Petrol and diesel prices vary depending upon several factors such as the local taxes, VAT, freight charges, etc. The prices of petroleum products change as per market rates. Public sector OMCs like BPCL, IOCL and HPCL revise the fuel prices daily in line with international benchmark prices and foreign exchange rates.
It is pertinent to mention here that the windfall tax or the special additional excise duty (SAED) on domestically produced crude oil has been raised to Rs 11,000 per tonne from Rs 8,000, as per a notification issued by the Finance Ministry on October 15.
On October 16, Sunday, petrol, and diesel are being sold at Rs 103.19 and Rs 94.76 respectively in the capital city of Bhubaneswar. Meanwhile, the rate of fuel is Rs 103.37 for petrol and Rs 94.93 for diesel in Cuttack.
The price of petrol in the pilgrim town of Puri is Rs 103.26 and diesel is sold at Rs 94.83 on Thursday. The petrol and Diesel price in western Odisha town of Sambalpur has been recorded Rs 103.68 and Rs 95.25 respectively.
Petrol is priced at Rs 103.18 in Balasore while diesel is priced at 94.76. Likewise in Ganjam, petrol is being sold at Rs 104.19 while diesel is being sold at Rs 95.72.
Similarly, the petrol rate in Malkangiri today is Rs 108.91, and the diesel rate is Rs 100.28.
Windfall tax was introduced by the government on July 1 to charge the industry for the large profit it has been earning through the sale of refined crude in the international market. Its quantum is reviewed at every fortnight.