Fuel Prices on the Rise
On 12 March 2026, the price of Brent crude oil surged to approximately $98.84 per barrel, indicating ongoing volatility in the global oil market. In Delhi, petrol and diesel prices remained stable at ₹94.77 and ₹87.67 per litre, respectively, while CNG was priced at ₹77.09 per kg.
The domestic LPG price saw a notable increase of ₹60, bringing it to ₹913.00 per cylinder as of 7 March 2026. This rise in fuel prices comes amid significant geopolitical tensions, particularly the ongoing war in the Middle East, which has disrupted crude production and exports.
Gold and Silver Prices Surge
In the precious metals market, 24-carat gold was priced at ₹1,61,940 per 10 grams, while 22-carat gold stood at ₹1,48,445 per 10 grams on the same day. Silver prices also reflected upward momentum, reaching ₹2,67,510 per kg.
Gold prices have surged more than 75% over the past year, driven by various factors including inflation concerns and increased demand for safe-haven assets. Over the last two decades, gold has delivered a compounded annual return of 15.6%, further solidifying its status as a reliable investment.
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. Currently, global inventories of crude and products are assessed at more than 8.2 billion barrels, reflecting a complex interplay of supply and demand dynamics.
As observers continue to monitor these developments, the impact of geopolitical events on fuel and gold prices remains a critical area of focus. Details remain unconfirmed regarding future price adjustments and market responses to ongoing global tensions.
