Petrol and diesel prices in India remained steady on April 26, 2026, despite ongoing volatility in global oil markets caused by geopolitical tensions in West Asia. State-run oil marketing companies (OMCs) adjust fuel rates daily based on international crude prices and currency exchange rates. While OMCs have raised prices for premium fuels and industrial diesel, which account for about 4% of total sales, the government has refuted recent claims suggesting that prices could rise significantly after the assembly elections, stating that no such proposal is under consideration. A report from Kotak Institutional Equities indicated a possible increase of ₹25–28 per litre if crude oil prices remain around $120 per barrel. The Union Bank report highlighted the risks associated with rising oil prices, noting that India, which imports nearly 85% of its crude oil, is particularly vulnerable to these fluctuations, leading to an