India, May 14 -- Reserve Bank of India Governor Sanjay Malhotra has warned that the government may eventually have to increase petrol and diesel prices if the ongoing Middle East crisis continues for a prolonged period.

Speaking at a conference in Switzerland, Malhotra said India is already beginning to feel the impact of disruptions caused by the conflict and the blockade of the Strait of Hormuz, which have pushed global oil and gas prices higher.

He noted that India remains heavily dependent on imports of energy and fertilisers, making the economy vulnerable to prolonged geopolitical instability in West Asia.

"If the crisis continues for a longer period of time, it is a matter of time that the government will actually pass on some of...