Petrol and diesel prices in India remained steady on April 27, 2026 despite significant volatility in global oil markets due to geopolitical tensions in West Asia.
Despite continued volatility in global oil markets, the Indian government has indicated that petrol and diesel prices are expected to remain stable for the time being. Oil marketing companies are said to absorb some of the fluctuations to protect consumers from sudden price increases.
Fuel prices are revised daily by these companies at 6 am based on movements in international oil prices and exchange rates. This system is designed to ensure transparency and align domestic fuel prices with market conditions in real time.
Oil prices rose on Monday while stock markets showed a mixed performance as the United States and Iran were no closer to resolving their eight-week conflict after Donald Trump canceled a planned trip by his envoys for peace talks over the weekend.
Any optimism about progress on talks planned in Pakistan evaporated on Saturday when the US president rejected the idea of talks, saying there was no benefit in “sitting and talking about nothing”.
On Fox News, he said he told his team, “We’ve got all the cards. They can call us whenever they want, but you’re not going to do any more 18-hour flights to sit and talk about nothing.”
In other early trading Monday, Brent crude for July delivery rose to $100.57 a barrel, while U.S. benchmark crude rose $1.28 to $95.65.
In currency markets, the US dollar fell to 159.34 Japanese yen from 159.59, while the euro strengthened to 1.1723 USD from 1.1701.
Middle East War: What’s Latest?
Abbas Araghchi arrived in St. Petersburg on Monday as fragile peace efforts between Iran and the United States remained uncertain, following a flurry of regional diplomacy and the collapse of planned talks in Pakistan.
According to the Iranian Foreign Ministry, Araghchi is expected to meet with Russian President Vladimir Putin during his visit.
The trip follows his stop in Oman and an earlier trip to Islamabad, as mediators continue efforts to maintain dialogue between Tehran and Washington.
Iran has closed the Strait of Hormuz, disrupting the flow of oil, gas and fertilizer, raising prices and raising fears of food shortages in developing countries. At the same time, the blockade by the United States remains in force in the strait.
Expectations for the second round of talks in Pakistan centered on the planned visit of Steve Witkoff and Jared Kushner. However, Donald Trump canceled the trip after Iranian state television reported that Abbas Araghchi had no intention of meeting US officials there.
(With input from agencies)
