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FUEL PRICE RELIEF UNLIKELY DESPITE EASING CRUDE OIL COSTS
The Business Guardian
|June 18, 2026
Fuel prices are unlikely to fall soon despite easing crude oil prices, as oil companies continue to recover losses from the recent West Asia conflict.
After weeks of pressure from rising global oil prices, India’s state-run oil marketing companies (OMCs) are beginning to see some relief.
But for consumers hoping for cheaper petrol, diesel and LPG after recent price hikes, any immediate relief may remain unlikely.
The recently announced peace deal between the United States and Iran has eased concerns over prolonged supply disruptions, with expectations that crude prices will cool from recent highs.
During the conflict, global crude prices remained above $100 per barrel, sharply increasing losses for India’s OMCs. Their under-recovery on the sale of fuel and liquefied petroleum gas (LPG) rose to nearly Rs 30,000 crore per month.
This story is from the June 18, 2026 edition of The Business Guardian.
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