Petrol, Diesel prices remain unchanged despite 4% drop in crude oil after Iran-US peace deal

Petrol Diesel Price Today, June 15, 2026: Even as global crude oil prices plunged sharply following reports of a breakthrough in Iran-US negotiations, fuel prices across India remained unchanged on Monday. State-run oil marketing companies (OMCs) have kept petrol and diesel rates steady since May 25, despite a significant correction in international oil markets.

The decline in crude oil prices came after US President Donald Trump announced that the Iran agreement had been finalized and that the strategically important Strait of Hormuz would reopen without restrictions. The development eased concerns over supply disruptions from the Middle East, triggering a sell-off in oil markets.

Brent Crude Falls Below $84 Per Barrel

International benchmark Brent crude dropped more than 4% on Monday morning, falling to around $83.75 per barrel, while US West Texas Intermediate (WTI) crude slipped nearly 5% to $80.87 per barrel. Both benchmarks had already recorded losses exceeding 3% in the previous trading session.


The latest decline pushed crude prices to their lowest levels since March, reflecting growing optimism that energy supplies from the Gulf region will continue without interruption.

Fuel Rates Unchanged Across India

Despite the sharp correction in crude prices, domestic fuel rates remained unchanged. Oil companies revise petrol and diesel prices daily at 6 am, but no revision has been announced for June 15.

The current petrol prices in major metro cities are:

Delhi: Rs 102.12 per litre
Mumbai: Rs 111.21 per litre
Kolkata: Rs 113.51 per litre
Chennai: Rs 107.77 per litre

Diesel prices continue to stand at:

Delhi: Rs 95.20 per litre
Mumbai: Rs 97.83 per litre
Kolkata: Rs 99.82 per litre
Chennai: Rs 99.55 per litre

Why Fuel Prices Remain High

While crude oil has retreated from recent highs, domestic fuel prices are yet to reflect the decline. Industry experts point out that oil marketing companies are still recovering from the impact of earlier spikes in global crude prices and exchange rate fluctuations.

Fuel prices had witnessed four separate hikes during May after the completion of assembly elections in several states. Between May 15 and May 25, petrol prices increased by over ?7 per litre in many cities, while diesel prices also saw substantial revisions.

Petrol and Diesel Rates in Key Cities

City	Petrol (₹/L)	Diesel (₹/L)
Delhi	102.12	95.20
Mumbai	111.21	97.83
Kolkata	113.51	99.82
Chennai	107.77	99.55
Noida	102.12	97.56
Chandigarh	101.51	89.47
Lucknow	101.89	95.36
Patna	113.37	99.36
Ranchi	105.26	100.49
Bhopal	114.57	99.64

Outlook for Fuel Prices

Market participants will closely monitor whether the easing of geopolitical tensions between Iran and the United States continues to push crude prices lower in the coming days. If global oil prices remain under pressure, consumers may expect oil companies to consider reducing petrol and diesel prices, though no official indication has been given so far.

For now, motorists across India will continue to pay the same rates, even as crude oil records one of its sharpest declines in recent months.