The rates of petrol and diesel have been considerably steady in Odisha and other parts of the country. Fuel prices, especially petrol and diesel, are very sensitive to global crude prices.
Prices of petroleum products have now been aligned to market rates. This means fuel prices will rise each time, global crude prices rise and the rupee falls against the dollar.
Petrol is being sold at Rs 103.19 and Rs 103.71 in Bhubaneswar and Cuttack respectively on Wednesday. While the diesel price in Bhubaneswar is Rs 94.76, in Cuttack the rate of the fuel is Rs 95.25.
Similarly, petrol is being sold at Rs 108.92 in Malkangiri. In Ganjam, petrol costs Rs 104.66 and in Sambalpur, it is Rs 103.85 per litre.
India snapped up discounted Russian oil that was shunned by buyers of Europe and other places post Russia's invasion of Ukraine. India has been guarded in its criticism of Moscow.
With oil prices surging past USD 100/barrel mark, the US along with other G7 nations is looking at imposing some sort of price cap on Russian oil.