Two of the island’s major fuel suppliers have warned customers to expect potential price increases as global markets react to escalating tensions in the Middle East.
Manx Petroleum said the volatility in international oil prices has made it impossible to offer indicative prices for new orders.
While the Isle of Man has so far been “insulated from the increases seen on the adjacent isle”, the company cautioned that its next shipment is likely to arrive at a “significantly higher cost” unless the situation stabilises.
Fuel Supplies
The supplier stressed there are currently no concerns about supply from the refinery, but said it is monitoring developments closely.
A spokesperson added that automatic delivery customers who are due a delivery soon and are worried about the potential cost should contact the company directly.
Ellan Vannin Fuels echoed the concerns, saying the “ongoing uncertainty in the Middle East has created a set of circumstances that are outside our control”.
The company said it is working with the Isle of Man Government, the Petrol Retailers Association (PRA) and the UK and Ireland Fuel Distributors Association (UKIFDA) as the situation evolves.
“In the fuel and heating oil markets, wholesale prices are changing daily,” the spokesperson said. “We want to reassure all of our customers that we have strong supply agreements.”
Both suppliers emphasised that while supply remains secure, the pricing environment is shifting rapidly, and further updates will be issued as the global picture becomes clearer.
