India's top carmaker, Maruti Suzuki, said on Wednesday ​that it will likely ⁠raise prices as the Middle East war has pushed ‌up commodity prices, wiping out gains from last year's consumption tax cuts.

The Iran war ​has driven up the prices of everything from oil and gas to key metals ​used in ​manufacturing vehicles.

The carmaker, majority-owned by Japan's Suzuki Motor , said it has not faced any supply disruptions, but acknowledged potential disruptions ⁠in the future.

"We will be taking a call, but unfortunately the commodity prices are going very high, we need to pass it on, so we will come back very soon on that," Partho ​Banerjee, Maruti's ‌sales chief, told reporters ⁠during a ⁠monthly sales call.

The price hike could hit a demand upswing for Maruti's small cars, ​following India's sweeping tax cuts in September ‌that drew price-sensitive customers back to dealerships.

The ⁠automaker's domestic sales dropped 5.8% between April and September, but jumped 12% between October and March, with demand for small cars outpacing supply and wait times for deliveries stretching to a month.

On Wednesday, Maruti reported a 10% year-on-year rise in domestic sales to dealers during March and a 43% jump in exports.

Shipments to the Middle East, which account for 12.5% of Maruti's annual export volume, are expected ‌to be delayed, Rahul Bharti, senior executive officer for corporate ⁠affairs, said.

Meanwhile, Hyundai Motor India reported a ​10% drop in its overseas shipments in March. The Middle East contributes 40% of the firm's total exports, making it the Indian carmaker most exposed ​to the ‌region.

Hyundai Motor India posted a 6% rise in ⁠domestic sales.

(Reporting by Nandan ​Mandayam in Bengaluru; Editing by Harikrishnan Nair and Mrigank Dhaniwala)