RBI Governor Warns Fuel Price Hike Possible If Middle East Crisis Continues Longer

RBI Governor Sanjay Malhotra has warned that petrol and diesel prices may rise if the Middle East crisis continues, citing disruptions in the Strait of Hormuz and rising global oil costs. Speaking in Switzerland, he said India’s heavy dependence on imported energy and fertilisers is already showing economic impact. While fuel prices remain unchanged for now, he indicated future hikes may be necessary. The rupee has also weakened below 95 against the US dollar amid sustained global economic pressure. Watch