Iran-US deal signed: Top 20 countries with cheapest petrol prices – India sees 7% increase in 3 months, view data | Today’s news
The initial deal between the US and Iran mainly affected global oil prices, which fell sharply after markets expected the reopening of the Strait of Hormuz, the easing of sanctions against Tehran and the return of Iranian oil exports.
While oil prices fell more than 3 percent on Thursday to their lowest levels since the first trading day of the Iran war (crude fell below $75 a barrel), U.S. gas prices fell below $4 a gallon on average. It’s the first time since March that the average cost of a regular gallon has been this low, the AP reported.
Gasoline prices average $3,999 in the U.S., according to the AAA Motor Club. The drop below $4 follows a 15 percent drop in the price of U.S. crude this month. However, fluctuations in gas prices persist throughout the country. In California, gas prices average $5.64 per gallon, while in South Carolina, it’s $3.58 per gallon.
Where else have gas prices fallen in recent days? Here is a list of countries with the cheapest and most expensive gasoline prices.
Gasoline prices in most countries do not change immediately on the day of geopolitical developments. Retail fuel prices are often revised weekly or monthly.
However, the latest comprehensive country-by-country gasoline price database available around June 17-18 comes from GlobalPetrolPrices.com, which publishes weekly gasoline prices.
The latest weekly update of global gasoline prices for the week ending June 15, 2026 saw the global average gasoline price at $1.51 (USD) per liter.
Fuel price change in India
During this period, the average price of petrol in India was at ₹108.71 per liter (≈ $1.15 USD). According to dataIn the three months (March 16 to June 15), India saw an increase in petrol prices by 7 percent, diesel by 8.3 percent and LPG prices by 11.4 percent.
As a net oil importer, India relies heavily on energy supplies from the Middle East.
Will Iran-US Interim Deal Affect Oil Prices in India? After the deal was signed on June 18, experts say consumers in India may not immediately benefit from the drop in global fuel prices.
Vaibhav Porwal, co-founder of Dezerv, had earlier told Mint that the government may decide to maintain the current retail fuel prices for some time.
“The government has not passed on the full impact of energy price increases to consumers. They may keep prices at current levels to allow oil companies to recoup some of the losses before the price cut,” he said.
Top 20 most expensive gasoline prices in the world (June 2026) (US$/liter)
- Hong Kong: 4.103
- Malawi: 3,577
- Israel: 2,761
- Denmark: 2,633
- The Netherlands: 2,611
(Source of information/data: globalpetrolprices.com, data updated June 15)
