On 12 March 2026, Brent crude oil prices increased to approximately $98.84 per barrel, reflecting ongoing volatility 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.

Additionally, domestic LPG prices saw a significant increase earlier in the month, rising by ₹60 to reach ₹913.00 per cylinder on 7 March 2026. This surge in LPG prices is part of a broader trend influenced by geopolitical tensions, particularly the ongoing war in the Middle East, which has disrupted crude production and exports.

Gold and Silver Prices

In the precious metals market, gold prices in India reached ₹1,61,940 per 10 grams for 24-carat gold and ₹1,48,445 for 22-carat gold on the same day. Silver prices were reported at ₹2,67,510 per kg. The rise in gold prices has been notable, with a surge of over 75% over the past year, reflecting a strong demand for safe-haven assets amid economic uncertainty.

Historically, gold has delivered a compounded annual return of 15.6% over the past 20 years, making it a favored investment during turbulent times. The recent spike in prices is also linked to the decision made by IEA member countries on 11 March to release 400 million barrels of oil from emergency reserves, aimed at stabilizing the market.

Global inventories of crude and products are currently assessed at more than 8.2 billion barrels, indicating a complex interplay of supply and demand factors affecting prices. As the situation evolves, market observers are closely monitoring further developments in both the fuel and gold markets.

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