Fuel price difference between here and UK unlikely to change

The significant cost difference at the petrol pumps between here and England is not likely to change for some time yet.

That's according to the Office of Fair Trading which has published its Road Fuels Monitoring Report, which looks at the factors and long term trends that influence the price of fuel.

It is significantly higher on Island due to the additional costs of having it shipped.

The OFT says it will not launch a formal investigation into fuel prices, opting instead to continue the practice of monitoring the market and publishing the data.

Chief officer Mike Ball told us why people are paying more: