Myriad of factors keeping Isle of Man fuel prices sky high says OFT Chief Officer

The Office of Fair Trading has blamed a myriad of unforeseeable factors for the spiralling costs at the petrol pump.

The Office of Fair Trading has blamed a myriad of unforeseeable factors for the spiralling costs of petrol and diesel.

The unrest in the Middle East and now the catastrophe in Japan have both been major contributors to the uncertainty in the market.

As it stands you’re paying 4.29 pence more per litre for unleaded petrol than you would be in the UK, and for Diesel it’s 5.76 pence.

The shipping and storage costs are a main contributor to why motorists on the Island can always expect to pay more to fill their cars than in the UK.
 
Chief Officer at the OFT Paul Gelling said it’s impossible to predict when the market will stabilise.

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