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Commodities

Global Crude Crash Fails to Bring Down Fuel Prices in India

Guavy AI Editorial Team
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Crude oil prices plummeted nearly 5% on Wednesday after data showed a rise in US crude inventories, sparking hope that fuel prices could decrease in India. However, Indian state-run oil marketing companies have kept petrol and diesel prices unchanged for the 64th consecutive day.

The last revision in retail fuel prices occurred on May 25, 2026, when prices were increased four times within 11 days following assembly elections in five states.

Despite the sharp decline in global crude prices, experts note that a drop in crude oil prices does not automatically result in lower petrol and diesel prices in India. Retail fuel prices are influenced by several factors, including global oil prices, exchange rates, taxes, and the pricing decisions of oil marketing companies.

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