As of May 12, 2026, petrol and diesel prices in India remained stable, with petrol priced at ₹94.72 per liter in New Delhi and diesel at ₹87.62 per liter. This stability comes amid global oil market volatility driven by conflicts in the Middle East, which have raised concerns over supply disruptions. Oil marketing companies (OMCs) are revising fuel prices daily, but they have chosen to absorb some of the volatility to avoid sudden price shocks for consumers. Despite this, there are speculations that prices may increase soon due to the financial strain on OMCs from elevated crude oil prices. Premium fuel prices, such as Indian Oil's XP100 petrol, have already risen significantly, indicating a potential trend for regular fuels if crude prices continue to climb. The government has indicated that domestic prices will remain steady for now, providing some relief to consumers amid inflationary pressures.