OFT chairman announces fuel inquiry

There is to be a full "root and branch" inquiry into fuel prices in the Isle of Man.

It follows concerns, expressed by MHKs and members of the public, that the falling cost of fuel in the United Kingdom is not being reflected at pumps on the Island.

Chairman of the Office of Fair Trading Bill Henderson (pictured) told the House of Keys he was uneasy with fuel prices at the moment, and had held meetings with officials from the energy companies:

"Given the intense public scrutiny of petrol prices at the minute, we have agreed to advancve a section 19 inquiry into the fuel prices of the Isle of Man.

"We have advised the Council of Ministers of the same, and I am insistent that we have an in-depth inquiry, root and branch, from refinary right through wholesalers and the retail outlets as well."