Choose the most appropriate word to fill in the blank.The automobile…

The correct answer is Option (3) → raised

Raise and rise:

• Raise (raise – raised – raised) is transitive: it takes an object and means to make something go up.
• Rise (rise – rose – risen) is intransitive: it takes no object and means to go up by itself.
• This sentence: the industry made "the prices" go up, and "the prices" is the object; the action is in the past ("suddenly"), so the verb is raised.
• Complete sentence: The automobile industry suddenly raised the prices of premium segment cars.
  Example: The school raised its fees this year.

Why the Other Options are Incorrect?

Option 1: rise — Incorrect. Rise cannot take an object ("rise the prices" is wrong), and it is a present form while the action is past.
Example: Prices rise when supply falls.

Option 2: rose — Incorrect. Rose is the past of "rise", so it is past tense, but it still cannot take the object "the prices".
Example: The sun rose at six o'clock.

Option 4: risen — Incorrect. Risen is the past participle of "rise"; it needs a helping verb (has risen) and cannot take an object.
Example: The river has risen after the heavy rain.

Contrast: raise takes an object (the industry raised the prices); rise takes none (the prices rose).