KAVARATHI (Lakshadweep): Petrol and diesel prices in the four islands of Lakshadweep — Kavaratti, Minicoy, Androt and Kalpeni — have been reduced to Rs 100.75 and Rs 95.71 per litre respectively from Saturday, island authorities announced.
The reduction was announced just hours before the Election Commission notified the dates for the Lok Sabha elections today.
A reduction of around Rs 5.2 per litre in retail prices (RSP) of petrol and diesel will be announced in Kavaratti and Minicoy, while a cut of around Rs 15.3 per litre will be announced in Androt and Kalpeni.
“The reduction in petrol and diesel prices has been made possible following the efforts of the UT administrations, who represented local residents, fishermen and auto/taxi drivers to Indian Oil Corporation Ltd (IOCL). The price reduction will boost consumer spending and reduce operational costs. It will also boost the tourism and travel industry and reduce expenses for transport-dependent businesses,” the statement said.
The paper said that until recently, gasoline and diesel were supplied island-wide in barrels, which resulted in scarce, irregular and expensive supplies.
He said that thanks to the efforts of the Union Territory Government, petrol and diesel fuel have been conveniently available through POL retail outlets established by IOCL in the four islands.
IOCL has warehouses at Kavaratti and Minicoy and products are sourced from Kochi, Kerala, the release said.
He also said that outlets in Kavaratti and Minicoy are being supplied with fuel directly from IOCL’s depot through pipelines while in Androt and Kalpeni, fuel is being supplied through barrels from the Kavaratti depot.
“Due to remote location and other costs incurred by IOCL in setting up storage depots, prices of petrol and diesel are higher in the islands compared to the mainland,” the statement said.
Published May 28, 2024 09:51 IST
