THERE’S more misery on the way for hard-pressed Manx motorists after Tynwald approved another increase in already-record high fuel prices.
Duty on fuel will increase by 3.02p a litre from August 1, in line with a reciprocal deal with the UK.
Pump prices in the island are already at a record high of 142.9p a litre for unleaded petrol.
The 3.02p hike will benefit the Manx Exchequer to the tune of £1.2-1.5 million a year.
Treasury Minister Eddie Teare MHK said this money had not yet been spent, but had already been committed. He accepted the increase would be unwelcome for consumers, particularly for those living in rural areas. ‘It’s a cross we have to bear,’ he said.
Unlike the last time Tynwald approved a duty increase, this latest hike did not at least go through on the nod, with Alex Downie MLC expressing concern at the impact on motorists and pointing out that the cost of living had escalated out of all recognition.
The increase was originally due to come in last April, but was deferred until January and then postponed again until August.