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.
The excise duty on petrol increased by 194 per cent while on diesel it grew by a huge 512 per cent between 2014-15 and 2021-22 even as crude oil prices remained below $80 per barrel between 2015-16 and 2021-22.
In Capital Bhubaneswar, petrol and diesel cost Rs 103.63 and Rs 95.15 respectively.
Petrol is being sold at Rs 103.28 and Rs 103.19 in the twin cities of Cuttack and Bhubaneswar.
Fuel rates, especially of petrol and diesel, are very sensitive to global crude prices...the prices of the petroleum products have now been aligned to market rates
We have been seeing an uptick in global crude prices, which has also pushed petrol and diesel rates in Odisha higher
Customers have to pay Rs 103.11 per litre of petrol in Bhubaneswar while diesel is being sold at Rs 95.68 a litre. In Cuttack, customers are paying Rs 103.54 and Rs 95.10 per litre of petrol and diesel, respectively.
Customers are reportedly paying Rs 103.19 per litre of petrol in Bhubaneswar while diesel is being sold at Rs 94.76 a litre
It can be noted that India meets 80 per cent of its oil needs through imports. Retail rates are adjusted according to the global movement in crude prices.
While the price of petrol per litre remains unchanged at Rs 103.22 in the capital city of Bhubaneswar today, diesel price remains at Rs 94.70 per litre.
Public sector OMCs revise the petrol and diesel prices in line with the benchmark international prices and foreign exchange rates
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