Global petrol prices: Here's a look at how much fuel cost has changed due to the West Asia war

Global petrol prices: Fuel prices (petrol and diesel) have taken surged across the globe as the war in West Asia, which started on 29 February after the United States and Israel launched attacks on Iran, entered its fourth week and continued to cause turmoil in the international markets.

The average price of petrol around the world is at $1.41 per litre as of 23 March 2026, data from tracking website globalpetrolprices.com showed. Overall, it added that actual prices differ across countries, where, as a general rule, richer countries have higher prices compared to poorer countries. However, the United States is a notable exception, as an economically advanced country with low prices, it added.

Besides the price of petrol itself, subsidies and taxes influence the retail prices across different countries. The data is for over 150 countries for the period of 23 February to 23 March 2026 and includes all days since the war in West Asia began.

Here's a look at the prices across countries and percentage change since the start of the Middle East conflict:

How have fuel prices changed after the war?

According to globalpetrolprices.com data, prices in countries with liberalised fuel markets adjust more rapidly and it usually takes a couple of weeks for retail prices to respond to oil price shock. It added that countries with lower excise tax see a bigger impact than those with higher duties.

“So far, the oil shortage has been greater in Asia, and several countries have experienced large price increases. Nigeria has also seen a significant price increase. Although it is an oil producer, its refineries buy oil at international prices. Many less developed countries with regulated markets have taken a wait-and-see stance,” it added.

Petrol price in India — March 2026

The average price of petrol in India is ₹101.15/litre ($1.08/litre) as of 25 March 2026. For comparison, the average price of petrol in the world is $1.35/litre. Prices in India are reviewed weekly.

Data from globalpetrolprices.com showed that for the 10-year period from 11 April 2016 to 23 March 2026 the average price of petrol in India was at ₹89.11/litre. In this, the lowest price was recorded at ₹62.24/litre on 15 August 2016 and the highest at ₹112.97/litre on 11 April 2022. Data is from official government sources, regulatory agencies, petroleum companies, and major media sources, the platform added.

The conflict in the Middle East is in its fourth week now and oil prices fell on Wednesday. As per Reuters, there is possibility of resumption of oil exports out of the Persian Gulf as the US had sent a 15-point plan to Iran for discussion. On 25 March 2026, petrol and diesel prices remained steady even though volatility in brent crude prices has impacted fuel rates across the globe.

City-wise Petrol and Diesel prices in India on 25 March 2026

Price of premium petrol hiked in India

The price of premium petrol was hiked by ₹2.35/litre from 20 March amid a fuel crisis due to the war in West Asia. “Prices of Bharat Petroleum’s Speed, Hindustan Petroleum’s Power, and Indian Oil’s XP95 have been increased by ₹2.09– ₹2.35/litre,” according to ANI.

Notably, OMCs revise petrol and diesel prices every day at 6 AM to keep domestic fuel prices aligned with international crude oil prices and currency exchange rates. The retail rate is influenced by several factors, such as international crude oil prices, the rupee-dollar exchange rate, and taxes imposed by the central and state governments.

According to a Kotak Institutional Equities report, OMCs will have to absorb the cost of higher crude oil imports amid negative public sentiment over the liquefied petroleum gas (LPG) shortage.

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