A local haulage firm says it is facing a “compounded cost burden” after a series of fuel price increases.
The warning comes after the Chief Minister told Tynwald this week that fuel prices are set to rise, while the Steam Packet Company has is set to increase its fuel surcharges for hauliers.
Sean Quaye, Director of Freight Hub, said the impact is being felt across three areas.
“We’ve also seen a notable increase in ferry fuel surcharges. Given the island’s reliance on ferry transport, this places additional pressure on top of already rising road fuel prices,” he said.
“In effect, we’re dealing with a threefold impact — UK fuel costs, ferry surcharges, and local Isle of Man fuel prices — all increasing at the same time. This creates a compounded cost burden that is difficult for us as transport operators to absorb fully.”
Mr Quaye added: “As a result, we have little choice but to adjust the fuel surcharge we pass on to our customers. While we always aim to minimise the impact, sustained increases at this level make this step unavoidable.
“We are monitoring the situation closely and will continue to review pricing in line with ongoing cost pressures.
“There is also a broader impact on the island’s economy. Rising transport costs inevitably feed into the price of goods and services, meaning the effects extend beyond the logistics sector.”