Indian Oil Corporation Limited has reduced fuel prices in a recent announcement. The price of petrol and diesel are cut down by Rs 15.3 per litre for Andrott and Kalpeni islands, and by Rs 5.2 per litre for Kavaratti and Minicoy in the Lakshadweep islands. IOCL, in Lakshadweep, is responsible for providing petrol and diesel to four islands: Kavaratti, Minicoy, Andrott, and Kalpeni. IOCL has depots located in Kavaratti and Minicoy, and the fuel at these depots is sourced from the IOCL depot in Kochi, Kerala.
Due to the rising costs of transportation, the markets in Andrott and Kalpeni were experiencing higher retail selling prices (RSP) of approximately Rs 10 per liter compared to Kavaratti and Minicoy. In order to equalize the prices across all the islands, a portion of Rs 7.60 per liter has been allocated and distributed among the four islands based on their respective sales volumes.
As a result, the RSP of petrol and diesel in the main islands, Kavaratti and Minicoy, will be reduced by approximately Rs 5.2 per liter. On the other hand, in the islands of Andrott and Kalpeni, the RSP will be reduced by around Rs 15.3 per liter. Henceforth, the price of petrol and diesel in all the islands of Lakshadweep will be set at Rs 100.75 per liter for petrol and Rs 95.71 per liter for diesel.