Crude Oil Prices Today: Crude oil prices fell in the international market, when can we get relief in India?

Crude Oil Prices Today: Business Desk: A big fall has been recorded in the prices of crude oil in the international market. On June 27, 2026, at around 10 am, the price of WTI Crude Oil fell to $ 70.24 per barrel and Brent Crude reached $ 71.99 per barrel.

There has been relief in the oil market after the long-running tension in the Middle East subsided. However, despite crude oil being cheaper in the global market, there has been no change in the prices of petrol and diesel in India at present.

Effect of reducing tension in Middle East

On February 28 this year, after the dispute between America and Iran escalated, there was a continuous rise in the prices of crude oil in the international market. Investors feared that increasing tensions might affect oil supply. But now the situation has started becoming normal and its direct effect is visible in the international market. Crude oil prices have returned to their lowest level after several months.

Crude oil prices fell due to these three reasons

According to experts, there are three main reasons behind the fall in crude oil prices.

First : The peace agreement between America and Iran reduced the tension in the market.

Second The concerns regarding oil supply were reduced due to Iran getting a temporary exemption of 60 days under the agreement.

third With the safe reopening of the Strait of Hormuz, the world’s most important oil route, global supply began to normalize. US President Donald Trump had also earlier said that as soon as the tension in the region ends, oil prices will return to their old levels.

Crude Oil Prices Today: Why haven’t the prices of petrol and diesel decreased in India yet?

Despite oil being cheaper in the international market, Indian consumers have not got any relief yet. Even on June 26, 2026, government oil companies did not make any change in the prices of petrol and diesel.

The biggest reason for this is that government oil companies like Indian Oil Corporation (IOCL), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) still have the crude oil which they had purchased at very high prices during the tension in the Middle East. Until this expensive stock is completely utilized, it will not be easy for companies to cut retail prices.

Crude Oil Prices Today: When can we get relief?

Experts believe that if the prices of crude oil in the international market remain around $ 70 per barrel in the coming days and the expensive stocks of oil companies get exhausted, then there may be a possibility of reduction in the prices of petrol and diesel.

However, fuel prices in India do not depend only on crude oil. These are also affected by taxes of the central and state governments, refining costs, transportation expenses and margins of oil marketing companies. Therefore, it may take some time for the benefits of the decline in the global market to reach the common consumers.

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