Fuel prices on the Isle of Man are set to rise significantly in the coming days, the Chief Minister has warned, amid ongoing pressures on international markets.

However, he stressed that there is currently no shortage of fuel on the island, and the local supply chain remains secure.

Speaking to the House of Keys in an urgent statement on Tuesday, the Chief Minister said the recent events in the Middle East are having an impact on global fuel markets, which is now feeding through to the island.

‘If the past five years have taught us anything, it is that our island is not immune from the impact of global events. The recent events in the Middle East are no exception,’ he said.

As of late March 2026, the Middle East is experiencing a major, widening war following a joint U.S.-Israeli military operation against Iran that began on February 28, 2026.

Despite rising prices, the Chief Minister reassured residents that the island’s fuel supply remains stable.

Both major suppliers have confirmed that deliveries are proceeding on schedule, and refinery loadings continue as planned, with no anticipated disruption to physical supply.

Stock levels have remained consistent even as demand has temporarily increased due to public concern.

The Chief Minister said that the Isle of Man has been relatively shielded from previous international market fluctuations, in part because of the infrequent nature of its fuel deliveries compared with neighbouring jurisdictions.

Nevertheless, he acknowledged that residents will feel the impact of higher prices in the coming week, particularly for home heating oil, which is widely used across the community.

‘While our supply chain remains secure, I do know that there will be significant price rises that will feed through to our shores over the coming days, and these price increases will cause concern for many,’ he said.

Local suppliers are monitoring the position closely, particularly for vulnerable households, to ensure that support is available where needed.

The Chief Minister also highlighted the Government’s ongoing monitoring of the situation.

The Council of Ministers, through the Economic and National Strategy Board, has been reviewing developments daily and will continue to explore options to support the community during this period of price pressures.

He stressed that the Government is working closely with fuel suppliers, the regulator, and the Office of Fair Trading to manage the rapidly evolving situation.

Residents were urged to remain calm and act responsibly in response to rising costs, and to show understanding toward frontline fuel staff.

‘We should treat those people on the front line of fuel sales with respect and tolerance as they do their job,’ he said.

He concluded by noting that the situation is evolving and will continue to be closely monitored:

‘This Government has proven time and time again that we can respond rapidly when the need arises.

‘We will remain in close contact with suppliers and keep the situation under constant review.’