Petrol and diesel prices in India remained unchanged on April 2, 2026, despite significant swings in global oil markets driven by geopolitical tensions in West Asia.
Despite changes in global oil prices, India’s government has signaled that petrol and diesel rates are likely to remain stable for the time being as oil marketing companies absorb some of the volatility to avoid sudden price hikes for consumers.
Oil Marketing Companies (OMCs) revise fuel prices every day at 6 am and adjust them in line with changes in global oil prices and exchange rates.
This system of daily updates is intended to increase transparency and ensure that consumers have access to the latest information on retail fuel prices.
Asian stocks reversed gains early Thursday, falling more than 1.4%, and U.S. stock index futures fell 1% as Trump spoke of the attacks in his address to the nation. Treasuries fell and the yield on the benchmark 10-year rose four basis points to 4.36%. Brent crude jumped 4.2% above $105 a barrel.
Oil jumped over 4% after Trump’s speech.
Oil prices jumped more than $4 on Thursday after US President Donald Trump said the United States would continue attacks on Iran in the coming weeks, including targeting energy and oil facilities, without setting a clear timetable for ending the war, Reuters reported.
Brent crude futures were up $4.88, or 4.8%, at $106.04 a barrel by 0200 GMT. US West Texas Intermediate futures rose $4.17, or 4.2%, to settle at $104.29 a barrel.
Trump is trying to sell why war is necessary
The president said at the beginning of his speech that he wanted to “discuss why Operation Epic Fury is necessary for the security of America and the security of the free world,” indicating that part of the goal of Wednesday’s speech was to address the confusion that has persisted as he and his administration changed the reasons for launching the mission and its goals, the AP reported.
But Trump offered no new explanations Wednesday night.
He argued that Iran could not have a nuclear weapon and called such a prospect an “intolerable threat”.
Although he and his administration have insisted that the U.S. and Israel wiped out Iran’s nuclear program with strikes last summer, he said Wednesday that Iran was trying to rebuild its nuclear program in a new location after those attacks. He did not give details but said it indicated Iran was not backing down from its nuclear ambitions. He also said Iran is building a huge arsenal of ballistic missiles that pose a threat to the American homeland, the AP reported.
(With input from agencies)
