Fuel prices continue to fluctuate globally, impacted by a complex interplay of factors ranging from geopolitical events to shifts in crude oil supply and demand. As of January 23, 2026, here's a snapshot of petrol and diesel prices in various regions.

United States:

The U.S. Energy Information Administration (EIA) reported the following averages as of January 19, 2026:

• Regular Gasoline: \$2.806 per gallon, up from \$2.779 the previous week.
• Diesel: \$3.530 per gallon, up from \$3.459 the previous week.

Regional variations exist, with the West Coast generally experiencing the highest prices and the Gulf Coast the lowest. For example, in California, the average price for regular gasoline was \$3.977 per gallon on January 19, 2026.

India:

Fuel prices in India vary across cities. As of January 23, 2026:

• Petrol: Prices in major cities range from Rs 94.25 to Rs 107.5 per liter. In Delhi, the petrol rate is Rs 96.72 per liter.
• Diesel: Average diesel rates in India range from Rs 82.5 to Rs 96.4 per liter. Diesel in Delhi is priced at Rs 87.62 per liter.

It's worth noting that diesel prices in Mumbai have remained unchanged for the past 11 months, standing at Rs 90.03 per liter.

Other Regions:

• In some regions, like that covered by the Energy Secretariat announcement, 95-octane gasoline will increase by one cent, reaching 0.85 cents. 91 octane gasoline will increase in price by two cents, reaching 0.80 cents per liter. Low-sulfur diesel will increase in price by three cents, reaching 0.79 cents per liter.
• In Lebanon, as of January 20, 2026, the prices were UNL 95 at 1,326,000 L.L., UNL 98 at 1,366,000 L.L., Diesel at 1,248,000 L.L., and Gas (LPG) at 1,221,000 L.L.

Factors Influencing Price:

Several factors are contributing to the current price environment:

• Geopolitical Tensions: Events like the Red Sea crisis can disrupt oil supply chains, leading to price increases.
• Crude Oil Prices: Fluctuations in the global demand and supply of crude oil directly impact petrol and diesel prices.
• Currency Exchange Rates: A stronger domestic currency against the US dollar can cushion the impact of rising crude oil prices.
• Government Policies: Excise duties, Value Added Tax (VAT), and other levies imposed by governments influence the final price consumers pay.

Market Outlook:

Trading Economics estimates gasoline to trade at 1.82 USD/GAL by the end of this quarter and at 1.96 in 12 months.

It is important to note that fuel prices are dynamic and subject to change based on various market conditions and government policies. Consumers are advised to check with local retailers for the most up-to-date prices in their cities.