Bhubaneswar: Petrol prices in Odisha capital breached the Rs 105 per litre threshold on Tuesday, following the second fuel price revision in less than a week.
Retail fuel rates were hiked by around 90 paise per litre across major cities, with petrol increasing by approximately 87 paise and diesel by 91 paise. This comes just days after a steeper Rs 3 per litre increase on May 15, ending a nearly four-year freeze on price revisions.
In Bhubaneswar, petrol is now retailing at about Rs 105.09 per litre, up from roughly Rs 104.57 the previous day. The latest adjustment has pushed prices higher in several metros as well. In Delhi, petrol increased by 87 paise to Rs 98.64 per litre, while diesel went up by 91
paise to Rs 91.58 per litre. Kolkata witnessed the sharpest increase in petrol prices, climbing 96 paise to Rs 109.70 per litre, with diesel rising 94 paise to Rs 96.07 per litre. In Mumbai, petrol prices increased by 91 paise to Rs 107.59 per litre and diesel by 94 paise to Rs 94.08 per litre. Chennai saw petrol rise by 82 paise to Rs 104.49 per litre and diesel by 86 paise to Rs 96.11 per litre.
The repeated increases are primarily attributed to elevated global crude oil prices, which have been pushed higher amid ongoing geopolitical tensions in West Asia, particularly disruptions linked to the Strait of Hormuz. Brent crude has traded well above $100 per barrel in recent periods due to these supply concerns.
Oil marketing companies (OMCs) have been incurring significant daily losses, prompting them to pass on a portion of the cost increase to consumers. While the government has maintained that fuel supplies remain stable, the back-to-back hikes are exerting fresh pressure on household budgets and raising fears of broader inflationary impact, including higher transportation and essential commodity costs.