Freight companies serving the island could be seeing their fuel surcharge jump by over 25% per metre from next week.
The Steam Packet has set out the rise in its fuel surcharge in a letter to companies, seen by Manx.News, which will come into effect on April 1.
As a result of the changes, freight fuel surcharges appear to be set to rise from £8.79 per metre to £11.06 per metre (25.8%). A low van or unaccompanied or trade car would rise from £43.95 to £55.30.
The fuel surcharge is calculated every three months with a calculation mechanism built into the Sea Services Agreement between the company and the DoI.
We understand the Steam Packet absorbs £4.15m annually as a minimum before the mechanism kicks in.
Earlier today the Chief Minister told MHKs that islanders should expect significant increases in fuel prices in the coming days and weeks.
In response to a question in Keys, Alf Cannan said: “So we have open lines of communication through to many trade bodies. We’re also discussing, for example, with the Steam Packet, the impact of ferry costs and potentially fuel surcharges.”
Manx.News contacted the Steam Packet for comment first on the Chief Minister’s answer and then the £2.27 per metre fuel surcharge increase outlined in the letter, but the company said it was unable to respond today.