In Short
- The indian oil corporation’s cost
- Cutting measure has led to a significant reduction in petrol and diesel prices in lakshadweep.
- Petrol prices dropped by up to rs 15.3 per litre, while diesel prices also saw a significant decrease.
- This move aims to alleviate the financial burden on consumers due to infrastructure
- Related costs.
TFD – Discover how the recent cost reduction by the Indian Oil Corporation has resulted in substantial reductions in petrol and diesel prices, bringing relief to consumers in the Lakshadweep islands.
In the Lakshadweep islands, the Indian Oil Corporation eliminated a cost factor that was imposed to recoup the expense of building special infrastructure to carry petroleum to the isolated islands, resulting in a reduction in petrol and diesel costs of up to Rs 15.3 per litre. According to a post on X by the oil ministry, which cited data from IOC, the price of gasoline and diesel has been lowered by Rs 15.3 per litre on the Andrott and Kalpeni islands and Rs 5.2 per litre for Kavaratti and Minicoy in the Lakshadweep islands. Petrol prices in Kavaratti and Minicoy have dropped from Rs 105.94 to Rs 100.75 per litre, while in Andrott and Kalpeni they have dropped from Rs 116.13 to Rs 100.75 per liter. In a similar vein, diesel prices have changed.
Conclusion
The reduction in fuel prices in Lakshadweep due to the Indian Oil Corporation’s cost cut underscores the positive impact of strategic measures on consumer affordability and accessibility. This initiative reflects a commitment to addressing economic challenges and enhancing consumer welfare in the region.
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