Fuel Prices on 12 March 2026
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 and diesel prices remained stable at ₹94.77 and ₹87.67 per litre, respectively. The price of CNG in the capital also held steady at ₹77.09 per kg.
Domestic LPG prices saw a notable increase earlier in the month, rising by ₹60 to reach ₹913.00 per cylinder on 7 March 2026. This price adjustment comes amid broader concerns about supply disruptions linked to geopolitical tensions, particularly the ongoing war in the Middle East, which has significantly impacted crude production and exports.
Gold and Silver Prices Surge
On the same day, gold prices in India experienced a substantial rise, with the price of 24-carat gold reaching ₹1,61,940 per 10 grams, while 22-carat gold was priced at ₹1,48,445 per 10 grams. The silver price also saw an increase, standing at ₹2,67,510 per kg.
Gold prices have surged more than 75% over the past year, driven by a combination of factors including inflation concerns and increased demand for safe-haven assets. Historically, gold has delivered a compounded annual return of 15.6% over the past 20 years, making it a favored investment during uncertain economic times.
In a related development, the International Energy Agency (IEA) member countries agreed on 11 March to release 400 million barrels of oil from emergency reserves to stabilize the market. Currently, global observed inventories of crude and products are assessed at more than 8.2 billion barrels, indicating a significant buffer against supply shocks.
As the situation evolves, observers are closely monitoring the impact of these price changes on the Indian economy and consumer behavior. Details remain unconfirmed regarding how long these price levels will persist amidst ongoing geopolitical tensions and market fluctuations.
