Global Petrol Prices See Significant Declines, India Among Top Markets

Feb 20, 2026

71 min

Feb 20, 2026 00:32

Petrol prices fall sharply in key markets, India among biggest declines

## Global Petrol Price Trends

Petrol prices have seen notable declines in several key markets, with India among the top ten countries experiencing significant reductions. This trend is largely influenced by changes in global crude oil supply dynamics and geopolitical factors.

## Major Price Drops

According to a recent report, Syria, Iran, and Japan have recorded the steepest declines in petrol prices over the past five years. Syria saw the most dramatic drop, with prices falling by nearly 64% from 2021 to 2026. Iran and Japan also experienced substantial decreases, with prices dropping by 50% and 23%, respectively.

## India's Position

India's inclusion in the list of countries with declining petrol prices is attributed to a combination of domestic pricing policies and global crude market shifts. Although prices have not fallen as sharply as in some heavily subsidized markets, the overall trend indicates a stabilization of fuel costs after previous spikes.

## Geopolitical and Supply Influences

Market analysts highlight that petrol price movements are closely tied to geopolitical developments and supply expectations. The ongoing US-Iran negotiations and potential OPEC+ production changes are key factors influencing future price trends.

## Global Price Disparities

Despite the declines, global petrol price disparities remain significant. Libya and Iran have some of the lowest prices, while Hong Kong tops the list with the highest costs. These differences underscore the impact of domestic policies and subsidies on consumer fuel prices.

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