Fuel consumers in Odisha are feeling the pinch once again as petrol and diesel prices witnessed a marginal but noticeable hike on June 24. This surge is attributed to fluctuations in global crude oil prices, which continue to ripple through India’s domestic fuel pricing mechanism.
As per the latest retail fuel rates, petrol in Bhubaneswar has risen to ₹101.16 per litre, while diesel now costs ₹92.74 per litre. The revised rates reflect an increase of ₹0.06 in both fuel categories over the previous 24 hours. Though the spike may seem modest, it reflects the volatility of international energy markets and their direct impact on Indian consumers. Fuel prices in Cuttack, another key city in Odisha, remained unchanged. As of June 23, the cost of petrol stood at ₹101.20 per litre and diesel at ₹92.75 per litre. However, market watchers warn that a broader revision could be on the cards if crude prices continue to trend upward.
Across major metro cities in India, fuel rates vary due to factors such as VAT, freight charges, and dealer commission. On June 24, petrol in Delhi was priced at ₹94.77 per litre, in Mumbai at ₹103.50, in Kolkata at ₹105.41, and in Chennai at ₹100.80. Diesel prices in the same cities were ₹87.67, ₹90.03, ₹92.02, and ₹92.39 per litre respectively. According to industry analysts, the hike in Odisha comes amid a broader uptick in global crude oil benchmarks. Brent crude futures hovered around $86 per barrel earlier this week, influenced by a mix of geopolitical tensions, reduced output from key producers, and increasing summer fuel demand across the northern hemisphere.
Officials familiar with the matter from Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) confirmed that daily fuel price adjustments are based on a 15-day rolling average of international prices. With global crude remaining volatile due to supply disruptions and global demand recovery, retail prices across India may continue to witness minor fluctuations through July. “This is a textbook example of how dependent India’s fuel market remains on international benchmarks. Unless there’s a major policy shift or subsidy intervention, these adjustments will continue,” said an energy sector expert from a Mumbai-based think tank.
Odisha, like many other Indian states, adds VAT and other levies on top of the base fuel prices. While the Centre levies excise duty, it is the state-level taxes that create variations in final prices across the country. In Bhubaneswar, high freight charges and the absence of local subsidies also contribute to slightly elevated prices compared to other state capitals. The sharp rise in global oil prices has reignited conversations around India’s long-term energy security and the urgent need for a diversified fuel mix. Experts advocate a stronger push towards electric mobility and renewable energy alternatives to shield consumers from repeated oil shocks.
Moreover, the increasing fuel costs are likely to have a cascading effect on inflation, particularly in the transport and logistics sector. With diesel being the primary fuel for freight carriers and commercial transport, even marginal hikes result in elevated costs for food, goods, and services across the supply chain. In a statement earlier this month, officials from the Ministry of Petroleum and Natural Gas reiterated the government’s commitment to stabilising fuel prices through strategic reserves and bilateral supply arrangements. However, they also acknowledged that current pricing is driven largely by global trends, and immediate relief mechanisms remain limited.
While Bhubaneswar residents expressed concern over the recurring hikes, many are also becoming accustomed to the near-daily updates in fuel pricing. “We don’t get shocked anymore. It’s a gradual squeeze on our wallets every few weeks,” said a two-wheeler commuter in the capital city. Industry insiders also highlighted that global oil market dynamics—such as the OPEC+ alliance’s decision to maintain voluntary production cuts, ongoing conflicts in oil-rich regions, and seasonal fluctuations in demand—will continue to influence Indian pricing throughout the year.
Amid growing public pressure and rising living costs, several civil society groups have urged both central and state governments to consider fuel tax rationalisation. “We need an equitable system where essential commodities like fuel don’t drain household savings. A mechanism for price stabilisation is long overdue,” said an economist working on urban poverty policy. As Odisha and the rest of India head into a season of increased travel, monsoons, and logistical activity, the trajectory of petrol and diesel rates will remain under close watch. For now, commuters and transporters alike will have to navigate rising operational costs, with hopes pinned on either international price correction or state-level intervention.
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