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The residents of Delhi and the adjoining National Capital Region (Delhi NCR) will have to pay a higher price for Compressed Natural Gas (CNG), widely used by public transport vehicles such as taxis and auto rickshaws.

The price of CNG rose by Rs 1 on Sunday, meaning consumers in Delhi will have to pay Rs 80.09 per kg (€0.72, $0.83) and those in regions of Noida and Ghaziabad will now pay Rs 88.70 per kg (€0.8, $0.92), most Indian news outlets reported.

Gas retail companies had already increased the price of CNG by Rs 2 on May 15, making Sunday's hike the second in just two days. India's state-run fuel retailers also increased theprice of petrol and diesel on May 15 — the first in four years.

"The fare for our vehicles has not increased, but CNG prices keep rising," one taxi driver told the PTI news agency.

"It is making a big difference for poor people like us. Our demand from the government is that CNG prices should be reduced, and our fares should be increased," he said.

The increasing fuel rates comes due to soaring global crude oil prices. While the government-run oil retailers initially absorbed the shock to keep the pressure off the masses, Prime Minister Narendra Modi and his government have now signalled deeper economic impact from the persisting conflict in the Middle East.

India's national capital and several states are already promoting austerity measures after Modi appealed for the public to not buy gold for a year and conserve fuelby using public transport and working from home.

That's because India is facing a significant shortage of US dollars which it uses to pay for its two biggest imports — oil and gold.

Experts have warned that these hikes in petrol diesel and gas prices may be just the beginning.