RJ Kesari News Desk: Global crude oil prices have continued their downward trend, with international benchmarks slipping below $70 per barrel. Despite this significant decline, petrol and diesel prices in India remain unchanged, offering little relief to consumers already dealing with rising living costs.

While falling crude prices typically raise expectations of lower fuel costs, domestic oil marketing companies have kept retail prices steady for now.

International Crude Oil Prices Continue to Decline

Over the past several days, the global crude oil market has witnessed a sharp correction. Brent and WTI crude prices have softened due to improving supply conditions and easing geopolitical concerns in major oil-producing regions.

However, these lower international prices have not yet translated into cheaper petrol or diesel for Indian consumers.

Industry experts say that retail fuel prices often take time to reflect movements in global crude prices because of inventory costs, transportation, refining expenses, taxes, and pricing policies followed by oil marketing companies.

Fuel Prices Have Not Changed Despite Lower Crude

Although crude oil has become cheaper globally, public sector oil companies have not announced any reduction in petrol or diesel prices.

Consumers across the country continue to pay the same rates, even after the recent decline in international oil prices.

Fuel Prices Were Increased Multiple Times Earlier

It is worth noting that fuel prices were revised upward several times earlier this year.

During May 2026, state-run oil companies increased petrol and diesel prices on multiple occasions:

• 15 May: Petrol increased by ₹3.00 per litre, while diesel rose by ₹3.29 per litre.
• 19 May: Petrol became costlier by ₹0.87, while diesel increased by ₹0.91.
• 23 May: Another hike of ₹0.87 in petrol and ₹0.91 in diesel was implemented.
• 25 May: Petrol prices rose by ₹2.61, while diesel became costlier by ₹2.71 per litre.

These successive hikes significantly increased fuel costs for consumers across India.

Latest Petrol and Diesel Prices in Major Cities

Here are the latest fuel prices in key Indian cities:

Why Aren't Fuel Prices Falling Yet?

Although international crude oil prices have dropped sharply, domestic fuel prices depend on several additional factors beyond crude costs.

These include:

• Existing crude oil inventory purchased at higher prices
• Refining and transportation expenses
• Central and state taxes
• Dealer commissions
• Pricing decisions by oil marketing companies