On April 17, petrol and diesel prices at state-run outlets in India remained stable, reflecting government efforts to control inflation amidst global volatility in oil markets caused by the ongoing conflict in West Asia. The disruption in the energy supply chain has led to heightened anxiety among investors, particularly concerning the Strait of Hormuz blockade. As of 10:00 AM, major cities reported unchanged fuel rates, while the Reserve Bank of India (RBI) implemented measures to stabilize the rupee, which gained 0.5% against the dollar, trading at 92.7738 per dollar. This gain was attributed to RBI's directive for state-owned oil refiners to utilize a special credit facility for dollar purchases through the State Bank of India, thereby reducing speculation in the currency market. On the same day, Brent Crude prices fell to $98.12, reflecting a 1.28% decrease, while gold prices continued to rise, trading at $4,795.95. Indian equity benchmarks opened lower, with the NSE NIFTY 50 and BSE SENSEX both declining by 0.14%.