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Petrol and diesel prices across India remained unchanged on Sunday even as global crude oil prices eased following a temporary pause in military strikes between the United States and Iran. The decline in Brent crude has raised hopes of easing supply concerns, but retail fuel prices in India continue to remain stable after the last revision in May.

Global oil markets witnessed a sharp correction after reports suggested that the United States had halted further strikes on Iran, reviving expectations of diplomatic talks and reducing fears of prolonged supply disruptions through the Strait of Hormuz, one of the world's busiest oil shipping routes. Brent crude slipped below the $95-per-barrel mark after climbing above $100 earlier during the conflict, providing relief to energy markets worldwide.

Despite softer crude prices, Indian consumers have not seen any immediate revision in fuel prices. Retail petrol and diesel rates are revised daily by state-run oil marketing companies based on international crude prices, exchange rates, taxes, freight charges and dealer commissions. Since state taxes vary, fuel prices differ from one city to another.

The most recent nationwide fuel price revision came on May 25, and prices have remained unchanged since then. Industry experts note that while falling crude prices may reduce pressure on fuel retailers, any change in retail rates depends on broader market conditions and government policy.

Petrol and Diesel Prices Today (Per Litre)

Source: Indian Oil/State-run oil marketing companies.

Analysts believe the easing in crude prices reflects cautious optimism that geopolitical tensions in the Middle East could cool if diplomatic efforts continue. However, they warn that the situation remains fragile, with any renewed conflict capable of triggering another spike in global oil prices. Markets will continue to monitor developments around the Strait of Hormuz, as nearly one-fifth of the world's oil passes through the strategic waterway.

For now, Indian motorists can expect fuel prices to remain stable unless there is a sustained movement in international crude prices or a policy decision affecting domestic fuel taxation.