Fuel costs cause ferry price rise

The Isle of Man Steam Packet Company has announced a price hike due to soaring fuel costs.

The company says the cost of fuel has doubled over the past year rising from $600 (�322) per tonne last year to as high as $1,200 (�645) this year.

The surcharge for a foot passenger will cost between �2.50 and �5 and the freight surcharge will go up to �8 per metre or �40.00 per trade.

The increased charge will come into effect from 1 September.

The company said the cost of fuel for a return trip from the island to Liverpool can be as much as �15,000.

Steam Packet Company chief executive Mark Woodward said: "World fuel prices have reached record levels in recent months, and in the marine transport sector the scale of the increase this year has been quite exceptional.

"The Steam Packet Company has absorbed much of the increased cost over the last few years, and since March this year has already absorbed several million pounds in extra costs, which it cannot recover."

If fuel costs go down charges will subsequently be reduced.

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