Petrol and diesel prices have been considerably steady in Odisha and other parts of the country for the last several days giving a bit of respite to the consumers.
Fuel rates, especially of petrol and diesel, are very sensitive to global crude prices. Prices of the petroleum products have now been aligned to market rates. This means fuel price will rise each time, global crude prices rise and the rupee falls against the dollar.
As per August 14 updates, petrol is being sold at Rs 103.19 and Rs 103.59 in Bhubaneswar and Cuttack respectively. On Friday while diesel price in Bhubaneswar is Rs 94.76, in Cuttack the fuel's rate is Rs 95.14.
Petrol price at Angul remained the same Rs 104.71 on Friday while in Balasore, it is sold at Rs 103.95. Petrol price in Bargarh is Rs 103.85. It is sold at Rs 104.05 in Bhadrak, Rs 105.91 in Bolangir, Rs 103.98 in Dhenkanal, Rs 103.77 in Jajpur, Rs 104.84 in Keonjhar and Rs 103.44 in Puri.
The price of diesel is at Rs 96.22 in Angul, Rs 95.41 in Bargarh, Rs 95.60 in Bhadrak, Rs 95.52 in Dhenkanal, Rs 95.29 in Jajpur, Rs 96.32 in Keonjhar, Rs 99.24 in Koraput and Rs 100.29 in Malkangiri.
Meanwhile, the oil alliance that the world economy is expected to grow by 3.1 per cent in 2022, compared to its forecast of 3.5 per cent in the previous three months.