Petrol and diesel tax to rise by 9.5% next month

Tax on petrol and diesel is set to rise by almost 9.5 per cent in March.

Under an order due to be discussed by Tynwald in March, reductions in fuel duty imposed last year would be reversed.

That would mean the tax on a litre of petrol would rise from around 53p to 58p.

The Treasury says under a Customs and Excise agreement, the Island has to match the UK's tax rates on fuel and oil.