Petrol price nears Rs 110 in Bhubaneswar, Cuttack; Here’s why rates are increasing

Bhubaneswar: More woes for common man as petrol price neared Rs 110 per litre in Odisha capital and Cuttack, today.

The fuel was being sold at 109.66/litre in the temple city and at 109.85/litre in the millennium city.

Places in Odisha where petrol price has crossed the Rs 110-mark are Angul (111.43), Bargarh (110.71), Bhadrak (110.02), Bolangir (111.10), Boudh (110.86), Deogarh (110.07), Dhenkanal (110.05), Gajapati (111.80), Ganjam (110.86), Kalahandi (112.74), Kandhamal (110.95), Keonjhar (111.62), Koraput (113.87), Malkangiri (114.84), Nabarangpur (113.56), Nuapada (111.75), Rayagada (112.23), Sonepur (110.90) and Sundargarh (110.36).

Crude prices have been on a surge rising over three year high level of over $ 86 a barrel now as global demand remains firm while OPEC+ continues to move slowly on increasing production. Since September 5, when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.

Petrol prices had maintained stability since September 5, but oil companies finally raised the pump prices last week and this week given a spurt in the product prices lately. Petrol prices have also risen on 22 of the previous 29 days.

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