The city of Katihar is situated in the eastern region of Bihar. It is an important road and railway junction as it is the main route of the Delhi-Guwahati railway line. This city houses several railway workshops and is primarily dependent on agricultural trade. It also draws a lot of tourists because of its exquisite places of worship and serene lakes. The road transport system of the city has dense networks connecting neighbouring cities, as interstate bus services are absent. Government here plans to open an airport in the city soon. The city acts as a strategic railway junction and is heavily dependent on petrol prices. Petrol price in Katihar impacts the livelihoods of many people.
Petrol price in Katihar
The up-to-date petrol price in Katihar is INR 106.38 per litre.
The price keeps hovering between the range of INR 106.38 per litre to INR
People here are under a lot of stress due to the increasing petrol price. The price of all products goes up with the increase in fuel prices. Bihar government wants to collect high tax revenues on the sale of petrol here. This is a significant contributor to rising petrol costs.
Diesel price in Katihar
Up-to-date diesel price in Katihar is INR 92.55 per litre. In the last few weeks, the diesel price has not shown much of an unstable behaviour, except for minor rises and falls.
It has been jumping within the range of INR 92.55 per litre to INR 93.15 per litre. Diesel is an essential resource here as both public and private transport entities depend on it. Like most other cities, diesel prices are lower than petrol prices. Diesel is used exclusively here in cars, taxis, buses, etc. as it is more affordable than petrol.
The stronger the US dollar gets, the price of diesel goes up accordingly if the national currency value stays the same. Increasing crude oil cost amid global political tensions and high excise duties are making matters worse.
The effect of the pandemic on oil prices
The pandemic was responsible for triggering a massive demand shock in the global oil & gas industry, leading to a sudden drop in oil prices. Oil demand fell sharply as governments all over the world shut business activities, issuing stay-at-home mandates and limited travel.
After we'd seen the worst of the pandemic, oil prices started to rise again in January 2020. By April, the lower economic activity created an oversupply as oil prices fell dramatically. Eventually, as countries came out of lockdowns - the global price of an oil barrel increased by $11. At the end of 2020, prices kept going up and Brent Crude prices hit $51 per barrel.
Eventually, the price skyrocketed amidst the Russia-Ukraine conflict and is not showing any signs of slowing down yet. However, experts think the price of oil will come down in the first half of 2023.
Conclusion
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