The Office of Fair Trading says it’s still too early to say whether consumers are being ripped off over high petrol prices.

An investigation involving meetings with all those involved in the fuel supply chain is still going on, although the OFT expects it to be completed soon.

So far, it has met executives from large suppliers such as Shell and Manx Petroleums, but has yet to see the owners of garages.

OFT chairman Bill Handerson (pictured) says if there are any problems, he can ask the Council of Ministers for permission to launch a more formal inquiry. He told us:

"The other thing the consumer needs to be fully aware of is that, at the end of the day, if I'm still not satisfied, even to the point of consumer transparency, there's a strong likelihood I will be making a request to the Council of Ministers for a Section 19 investigation.

"This will give clarity of pricing structures here on the Isle of Man so that we can all understand exactly where the costs are, and where the biggest costs are."