Kavaratti(Lakshadweep): The price of petrol and diesel in the Lakshadweep islands of Kavaratti, Minicoy, Andrott, and Kalpeni have been reduced to Rs 100.75 and Rs 95.71 per litre respectively with effect from Saturday, the island administration said in a release.
The price cut was announced just a few hours before the Lok Sabha polls schedule was notified by the Election Commission today.
There will be a reduction in the Retail Selling Price (RSP) of petrol and diesel at Kavaratti and Minicoy by around Rs 5.2 per litre. In Andrott and Kalpeni it will be reduced by around Rs 15.3 per litre, the release said.
"This reduction in prices of petrol and diesel has been possible due to the efforts of the Union Territory (UT) administration which took up the matter with the Indian Oil Corporation Ltd (IOCL) on the demand of local public, fishermen, auto/taxi drivers etc. The reduction will boost consumer spending and reduce operating cost. It shall be a boost for the tourism and travel industry and reduce expenses for businesses dependent on transportation," the release said.
It said that petrol and diesel was being provided through barrels in all islands till recently and as a result, the supply was scarce, irregular and costly.
Due to the efforts of the UT administration, petrol and diesel is conveniently available through POL retail outlets established by IOCL in the four islands, it said.
The IOCL has depots at Kavaratti and Minicoy with the product supplied from Kochi, Kerala, the release said.
It also said that the retail outlets at Kavaratti and Minicoy are supplied directly through pipelines from IOCL depots and in Andrott and Kalpeni, the fuel supply comes from the Kavaratti depot through barrels.
"Due to the remote location and other costs involved in establishing the depots by IOCL, the price of petrol and diesel is higher in the islands compared to the mainland," the release said.
Published 28 May 2024, 09:51 IST