The Central Government has granted a major boon to vehicle owners with a substantial reduction in petrol-diesel rates. For the islands of Andrott and Kalpeni in Lakshadweep, the prices have decreased by 15.3 INR per litre, and for Kavaratti and Minicoy by 5.2 INR per litre. The new prices are effective immediately.
Following the major price cut, the islands of Lakshadweep will see petrol at an updated price of 100.75 INR/litre and diesel at 95.71 INR/litre. It's noteworthy that the government had reduced fuel prices across the nation by 2 INR per litre just yesterday. This decision came right before the Electoral Commission announced the dates for the upcoming Lok Sabha elections.
Central Minister Hardeep Singh Puri took to social media platform X to tweet that by decreasing fuel prices by 2 INR, Prime Minister Narendra Modi has once again demonstrated his commitment to the welfare and convenience of millions of Indian families. He also mentioned the special price reduction for Lakshadweep, noting Prime Minister Modi is the first leader to consider the people of #Lakshadweep part of his family.
The Ministry of Petroleum and Natural Gas disseminated the news of the price cut on social media X. The ministry informed that the Indian Oil Corporation Limited (IOCL) supplies fuel to four islands in Lakshadweep – Kavaratti, Minicoy, Andrott, and Kalpeni. The fuel depots in Kavaratti and Minicoy receive their supply from the IOCL depot in Kochi, Kerala.
Why Such a Drastic Price Cut?
In announcing the price decrease, the ministry explained that a charge of 6.90 INR per litre was previously included in the fuel prices at Lakshadweep depots to recover capital expenditures due to the low and unfeasible volume. This charge had been in place for the past three years, but following the complete recovery, it is now being removed, which will reduce the Retail Selling Price (RSP) of petrol and diesel by approximately 6.90 INR per litre, benefiting customers.
Fuel Prices in India's Metropolises
As of today, the price of petrol in New Delhi has been adjusted to 94.72 INR per litre. In Mumbai, it is now 104.21 INR, while in Kolkata it stands at 103.94 INR per litre. In Chennai, petrol is priced at 100.75 INR per litre.
