Bhubaneswar, June 18 -- A sharp decline in global crude oil prices has raised hopes among consumers in Odisha for a reduction in petrol and diesel prices. Following the easing of tensions in the Middle East and the Iran-US peace deal, international crude prices have fallen significantly, leading to fresh demands for a cut in domestic fuel prices.

Crude oil, which had surged beyond $120 per barrel during the peak of geopolitical tensions, has now slipped to below $80 per barrel, marking a decline of nearly 40% within a short period.

The earlier spike in crude prices had directly impacted consumers in India. Between May 15 and May 25, petrol and diesel prices were increased four times in just ten days, resulting in a cumulative hike of ne...