As of May 7, 2026, petrol and diesel prices in India remain stable, with no changes reported despite ongoing global oil market volatility influenced by geopolitical tensions in the Middle East. The Indian government has indicated that it will maintain these prices to alleviate inflationary pressures on consumers. Meanwhile, commercial LPG prices have sharply increased since May 1, affecting businesses such as hotels and restaurants. The rise in global crude oil prices, particularly due to conflicts involving Iran and Israel, has raised concerns about potential disruptions in oil supply through the Strait of Hormuz, a crucial energy route. Despite these global uncertainties, Indian oil marketing companies (OMCs) are absorbing some of the volatility to prevent sudden price hikes for consumers. Fuel prices across major Indian cities, such as New Delhi and Mumbai, remain consistent, while private retailers have started increasing their prices, reflecting the impact of rising crude costs. With the rupee weakening and crude prices elevated, the future of regular fuel price increases remains uncertain, as OMCs aim to avoid inflationary pressures.