As of April 9, petrol and diesel prices in major Indian cities, including Delhi, Mumbai, Bengaluru, Chennai, Kolkata, and Hyderabad, have largely remained unchanged despite significant fluctuations in the global oil market. This stability follows a two-week ceasefire announced on April 7 between the US and Iran, which initially eased energy prices. However, the situation has deteriorated with renewed violence in Lebanon, leading to an increase in crude oil prices by 3%, reaching $97.64 per barrel. The conflict in the Middle East has resulted in a 50% rise in crude oil prices since the onset of hostilities on February 28, primarily due to supply disruptions in the Strait of Hormuz. In response to these developments, Defence Minister Rajnath Singh held a meeting on April 8 to review measures ensuring the availability of essential fuels and commodities in India. The ongoing volatility in the region continues to pose risks to oil prices, with analysts noting that the ceasefire's stability is under threat.