India Fuel Prices Steady Amid Global Crude Oil Gains

Fuel prices in major Indian cities including Delhi, Mumbai, and Bengaluru remained unchanged on August 22, 2026, despite a weekly gain in crude oil prices.

State-owned fuel retailers Indian Oil Corporation, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd continue to shield consumers from global price volatility. The last price adjustment occurred on May 25, when petrol prices rose by ₹2.61 per litre and diesel by ₹2.71 per litre. Globally, Brent crude futures gained 6.39% and US crude rose 5.66% this week, with Brent settling at $94.39 a barrel and West Texas Intermediate at $87.06 a barrel on Friday.

These gains followed US President Donald Trump's threats of economic sanctions on Iran's trading partners. Trump stated that Iran desires a deal with the United States but is not ready to accept necessary terms, citing Iran's financial and military weaknesses and high inflation. China, a major importer of Iranian oil, expressed that sanctions do not serve any party's interests.

Meanwhile, Russia is experiencing a second wave of gasoline shortages, with petrol availability at 28% of filling stations nationwide on Wednesday, down from 41% a week prior. Fuel restrictions are in place in nearly all regions, and long queues have reappeared in Moscow. In the Dominican Republic, regular gasoline and diesel prices will increase by RD$3 per gallon for the week of August 22-28, with the government allocating RD$1.312 billion in fuel subsidies.

The Dominican Ministry of Industry, Commerce and MSMEs attributed price pressure to renewed US-Iran tensions affecting crude oil and refined products. In Pakistan, petrol prices increased by Rs3.81 per litre and high-speed diesel by Rs3.59 per litre, effective August 22. The government levies Rs114 per litre in taxes on petrol and Rs100 per litre on diesel. In Italy, petrol prices reached €2.005 per litre, a three-year high, due to the ongoing Iran war's effects.