Indraprastha Gas Limited (IGL) on Tuesday announced another increase in compressed natural gas (CNG) rates, taking the number of hikes to four in less than two weeks. The latest revision saw CNG prices rise by Rs 2 per kg. The latest hike comes after IGL increased CNG prices by Rs 2 per kg on Saturday. Earlier, rates were increased by Rs 2 per kg on May 15, followed by an increase of Re 1 on May 17. The repeated increase in CNG prices comes amid higher global energy prices linked to the ongoing conflict in the Middle East and disruptions around the Strait of Hormuz. Meanwhile, oil marketing companies (OMCs) on Monday announced another hike in petrol and diesel prices, taking the cumulative increase to around Rs 7.5 per litre. Petrol prices were raised by Rs 2.61 per liter and diesel by Rs 2.71 per litre, the fourth fuel price hike in less than two weeks. According to industry sources, petrol prices in the national capital rose to Rs 102.12 from Rs 99.51 per litre, while diesel rates rose to Rs 95.20 from Rs 92.49 per litre. Continued increases in fuel prices are expected to put pressure on transportation costs and household budgets as consumers face higher spending amid volatility in global energy markets.Meanwhile, the Middle East conflict that began with the US and Israel launching joint strikes on Iran on February 28 continues to intensify. Following the attack, Iran tightened its noose on the strategically important Strait of Hormuz, the pipeline that carries 20% of the world’s fuel supply, causing a worldwide uproar.