OFT downplays petrol price gap

Body keeps 'close eye' on UK pumps

The Office of Fair Trading insists petrol prices in the Island aren't the 'rip-off' they are often made out to be.

Chairman Martyn Perkins was speaking after the issue was raised in Tynwald last week.

Over half of the price paid on every litre of fuel goes on duty - which was left unchanged in this year's budget.

The remainder of the cost is exacerbated by logistics and transport costs, which are spread across the Island's fourteen filling stations.

Mr Perkins says the OFT keeps a close eye on prices here and in the UK - but maintains the difference in pence per litre is not remarkable: