Despite a fall in global crude oil prices following a US-Iran agreement, petrol and diesel rates in India remained unchanged on June 18. This development has raised hopes for future price reductions. However, oil marketing companies have not yet passed on the benefit to consumers, maintaining existing retail rates.
Petrol and diesel prices across India remained unchanged on June 18, offering no immediate relief to consumers despite a decline in global crude oil prices following the recently signed US-Iran agreement. The development has sparked hopes of lower fuel costs in the coming weeks, but oil marketing companies (OMCs) have so far maintained existing retail rates.
The agreement between the United States and Iran has eased concerns over energy supply disruptions in the Middle East, leading to a notable fall in crude oil prices. International markets reacted positively, with Brent crude slipping below key levels as traders anticipated improved oil flows and reduced geopolitical tensions. Analysts believe softer crude prices could ease inflationary pressures and improve India’s economic outlook if the trend continues.
However, despite the drop in global oil prices, fuel rates at Indian pumps have not changed. OMCs continue to review domestic prices daily, factoring in international crude costs, exchange rates, taxes, transportation expenses and dealer commissions before making any revisions.
Petrol & Diesel Prices on June 18, 2026
City Petrol (Rs /litre) Diesel (Rs /litre)
Delhi Rs 102.12 Rs 95.20
Mumbai Rs 111.21 Rs 97.83
Kolkata Rs 113.47 Rs 99.82
Chennai Rs 107.88 Rs 99.65
Bengaluru Rs 110.89 Rs 98.80
Hyderabad Rs 115.69 Rs 103.82
Also Read: Petrol, Diesel Prices Today June 17: Crude Oil Slips Below $80, Check Latest Fuel Rates in Delhi, Chennai and More
Fuel prices had witnessed multiple increases in May amid soaring crude prices linked to tensions in West Asia. Petrol and diesel rates were raised by more than Rs 2.50 per litre on May 25 after an earlier Rs 3-per-litre hike in mid-May, increasing the burden on consumers across the country.
As of June 18, petrol and diesel prices in major cities remained broadly stable. In Delhi, petrol continues to retail at around Rs 99 per litre, while prices remain above Rs 106 per litre in Mumbai and Bengaluru. Kolkata and Chennai also continue to record elevated fuel rates following the recent revisions.
Industry experts suggest that if crude oil prices remain subdued for an extended period, OMCs may gain room to avoid further hikes and potentially consider price reductions. For now, however, motorists will have to wait longer for any benefit from the cooling global oil market. The coming weeks will be closely watched as fuel retailers assess whether the impact of the US-Iran deal translates into lower prices at the pump.
Also Read: Govt hikes export duties on diesel by Rs 14, ATF by Rs 12.5 per litre