India and Pakistan Adjust Fuel Prices Amid Oil Market Shifts

Fuel pricing strategies diverged across South Asia on June 20, 2026, as regional governments responded to fluctuations in the global oil market. In India, retail petrol and diesel prices remained stable, holding steady since May 25 despite Brent crude climbing above $80 per barrel. Suresh Gopi, the Union Minister of State for Petroleum and Natural Gas, noted that delays in shipping, refining, and distribution prevent global price benefits from reaching consumers immediately. Meanwhile, the Ministry of Petroleum and Natural Gas of India reported that state-run oil marketing companies continue to lose approximately ₹30 per litre on petrol and ₹27 per litre on diesel.

In contrast, the Government of Pakistan enacted a series of aggressive price adjustments. On June 19, the government slashed petrol costs by Rs. 74.28 to Rs. 299.50 per litre, addressing volatility that peaked in April when Brent crude hit $128 per barrel following a February 28 U.S. attack on Iran. Despite this cut, Pakistani consumers still face a price burden higher than pre-war levels.

On June 20, Pakistan further adjusted its petroleum levies. The government reduced the levy on petrol by Rs. 40.49 per litre, lowering it to Rs. 66.25, which provided an additional price decrease of roughly Rs. 34 per litre. However, the government simultaneously increased the high-speed diesel levy by Rs. 19.71 per litre, raising it to Rs. 72.97, a move officials warned could impact the industrial and agricultural sectors.