On Air Night Flight | Midnight - 6:00am

Oil and gas prices to remain 'abnormally high' for rest of year

Minister warns inflation could peak at 10 per cent later in 2022

Oil and gas prices are expected to remain 'abnormally high' for at least the rest of 2022.

That's according to Treasury Minister, David Ashford, who's been giving a statement on the Island's financial situation in Tynwald today (26 April).

He also admits that for low-income households, what can be done to deal with rising costs is limited:

More from Isle of Man News