Petrol, Diesel price hiked

New Delhi: Leading petroleum companies hiked petrol price by 36 paise per litre and diesel by 87 paise per litre on Sunday. The new prices will be effective from Sunday, 15^th November 2015 midnight.

After the latest price rise, petrol will cost Rs 61.06 per litre in Delhi,  including state levies, whereas diesel will cost Rs 46.80 per litre, country's largest fuel retailer Indian Oil Corporation said.

Earlier this month, the government hiked excise duty on the fuels to meet budgetary targets. Excise duty on petrol was raised by Rs. 1.60 per litre while that on diesel was increased by 40 paise a litre.

The rise in the price of petroleum products comes in the backdrop of the government imposing 0.5 per cent Swachh Bharat cess on taxable services. With the imposition of the cess, service tax rate will go up from 14 per cent to 14.5 per cent on all taxable services.