Manx Gas announce second price hike in a year

Manx Gas has announced another price hike in the face of rising fuel costs.

The increase is the second one of this year with the gas tariffs set to go up from August 1st.

There will be a 2.5% increase in all natural gas tariffs, with a more substantial 8% rise for Liquid Petroleum Gas, representative of 0.75p per unit.

Manx Gas have described the second increase as an unfortunate outcome, but one that is unavoidable given the well publicised surge in world prices for energy.

There will be an annual increase of £75 for those customers using 10,000 units of LPG per year, and a £16 increase for those using the same amount of natural gas.

The outlook for the rest of 2011 is for prices to remain high, with Manx Gas saying they will continue to review the situation saying all tariffs will reflect prices on the energy markets.

(AUDIO ABOVE - MANX GAS MD, TONY NICHOLLS)