Steam Packet hasn't hedged fuel for more than 20 years

Treasury Minister Chris Thomas says the Steam Packet company stopped fuel hedging more than 20 years ago, when the fuel surcharge was introduced.

He faced a question for written reply from Rushen MHK Juan Watterson about the ferry firm's forward purchasing and hedging to minimise fuel price spikes.

In his response, Mr Thomas said it stopped the practice in 2005, after the fuel surcharge was introduced.

He added the decision was a matter for the company's board - and was in line with other ferry operators.