Fuel Price Rises Expected on Isle of Man
The ongoing conflict in the Middle East is expected to cause "significant" increases in fuel prices on the Isle of Man in the upcoming week, according to the Chief Minister.
Wholesale oil and gas prices in the UK have surged since the attacks began on 28 February, as production and transportation have slowed or halted due to missile and drone strikes.
In an urgent statement to the House of Keys, Alfred Cannan emphasized that there is "no shortage in fuel supply on the island" and that there is "currently no threat to our supply chain."
However, he warned members that there will be "significant price rises that will feed through to our stores over the coming days."
"Since the start of the war, the Island has been relatively shielded due to the infrequent way our supplies arrive,"he said, but the
"upward pressure affecting international fuel markets is now feeding through into the island's fuel supply."
'Work as community'
MHK Michelle Haywood expressed concerns about the impact of the price rise on vulnerable customers.
"Many people who are on very low incomes will be very worried about racking up debts in order to pay for their fuel bills,"she said.
Lawrie Hooper noted that since oil and fuel prices are paid upfront, he questioned whether support would be available in the "more immediate future."
Rob Callister suggested offering discounted bus and rail fares to encourage public transport use and reduce car dependency.
Cannan responded:
"There are steps all of us can take as we approach increased prices, and it is important that we work together as a community.
Individuals should be considering how they best conserve their energy, adjust their heating usage where that is possible, and working with people they know who may be more vulnerable to these price increases,"he said.
The government is collaborating closely with fuel suppliers, the regulator, and the office of fair trading to monitor the situation. Suppliers have indicated openness to extending credit.
Cannan advised customers struggling with payments to initially contact their supplier.
Given the potential for a "prolonged crisis" in terms of price and economic impact, the government will carefully evaluate its position and continue monitoring developments.
The immediate priority is protecting vulnerable customers and determining how and where support should be directed, he added.
For further updates, readers can follow BBC Isle of Man on Facebook and X, watch BBC North West Tonight on BBC , and stories on the Isle of Man on the BBC website.
