Fuel prices continue to fluctuate globally, impacted by a complex interplay of geopolitical tensions, supply adjustments, and economic factors. As of February 6, 2026, here's a snapshot of what's happening with petrol and diesel prices in various regions.

Global Market Overview

Crude oil prices experienced a sharp drop of nearly 3% on February 6, 2026, as the U.S. and Iran agreed to hold talks, easing concerns about potential supply disruptions from the Middle East. According to Oilprice data from February 6, 2026, Brent crude oil was priced at $67.48 per barrel, a 2.85% decrease, while WTI crude oil stood at $63.36 per barrel, down 2.73%. Gasoline rose to $1.93 USD/Gal, up 0.48% from the previous day.

Regional Price Updates

• United States: According to the U.S. Energy Information Administration (EIA), the average U.S. regular gasoline price was $2.867 per gallon on February 2, 2026, a slight increase from the previous week ($2.853) but still lower than a year ago (-$0.215). Diesel fuel prices averaged $3.681 per gallon, up from $3.624 the previous week and slightly higher than the previous year. Prices vary significantly by region, with the West Coast having the highest prices. For example, the price of gasoline in California was $4.177.
• India: Diesel prices in India have remained relatively stable for the past 11 months. In major cities, prices average between Rs. 82.5/- to Rs. 96.4/- per liter. As of February 6, 2026, diesel prices in Delhi were around Rs. 87.62/- per liter, while in Mumbai, they stood at Rs. 90.03/- per liter.
• Vietnam: Domestic fuel prices in Vietnam saw adjustments effective February 5, 2026. The price of E5RON92 gasoline increased by 100 VND/liter to a maximum of 18,439 VND/liter. RON95-III gasoline increased by 35 VND/liter, reaching a ceiling of 18,880 VND/liter. Diesel prices rose by 280 VND/liter, not exceeding 18,453 VND/liter.
• South Africa: Fuel price decreases were implemented in South Africa at the beginning of February 2026. Petrol prices dropped by 65 cents per liter, while diesel prices decreased by 50 to 57 cents per liter, depending on the grade. Inland, Petrol 95 now costs R20.10, and Diesel 0.05% costs R17.91.
• Tanzania: The Energy and Water Utilities Regulatory Authority (EWURA) announced cap prices for petroleum products effective February 4, 2026. In Dar es Salaam, retail prices for petrol are capped at 2,788 TZS/litre and diesel at 2,701 TZS/litre.

Factors Influencing Price Changes

Several factors are currently influencing fuel prices worldwide:

• Geopolitical Tensions: Tensions between the U.S. and Iran continue to be a major factor. The U.S. military presence in the Middle East and Iran's threats to close the Strait of Hormuz have contributed to market volatility.
• OPEC+ Production: Decisions by OPEC+ regarding oil production levels also play a crucial role.
• Exchange Rates: The strength of local currencies against the US dollar impacts fuel prices.
• Trade Agreements: New trade agreements, such as the one between the U.S. and India, can influence the supply and demand of crude oil. India's agreement to halt purchases of Russian crude oil is one such example.

Additional Factors

The Ministry of Industry and Trade in Vietnam noted that the global oil market is influenced by factors such as the appreciation of the U.S. dollar, decreasing U.S. crude oil inventories, and the Russia-Ukraine conflict.