On 12 March 2026, the price of Brent crude oil rose to approximately $98.84 per barrel, reflecting ongoing tensions in the global oil market. In Delhi, petrol prices remained stable at ₹94.77 per litre, while diesel prices held at ₹87.67 per litre. The price of CNG in the capital also remained unchanged at ₹77.09 per kg.

Domestic LPG prices saw a recent increase, rising by ₹60 to reach ₹913.00 per cylinder on 7 March 2026. This adjustment comes amid broader market fluctuations influenced by geopolitical factors, particularly the ongoing war in the Middle East, which has disrupted crude production and exports.

Gold and Silver Prices

In the precious metals market, the price of 24-carat gold in India reached ₹1,61,940 per 10 grams on the same day, while 22-carat gold was priced at ₹1,48,445 per 10 grams. Silver prices also saw a notable figure, standing at ₹2,67,510 per kg.

Gold prices have surged more than 75% over the past year, indicating a significant shift in investor sentiment and market dynamics. Over the last two decades, gold has delivered a compounded annual return of 15.6%, making it a favored asset for many investors during times of uncertainty.

On 11 March, member countries of the International Energy Agency (IEA) agreed to release 400 million barrels of oil from emergency reserves to stabilize the market. Current global inventories of crude and products are assessed at more than 8.2 billion barrels, which may influence future pricing trends.

As the situation develops, observers are closely monitoring how these price changes will impact consumer behavior and the broader economy. Details remain unconfirmed regarding potential further adjustments in response to ongoing geopolitical events.

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