Gas prices are set to rise this month - but it's just a question of how much according to the Island's two main suppliers.

Shell marketing manager David Rose said: "World crude oil prices are very high. There is the Iraqi situation and the Venezuelan situation. Those prices are passed on."

He said local companies had to notify government on the tenth of every month for price rises which would occur on the 15th of the month.

He said: "I don't know how much it will be. It depends what happens between now and the tenth but definitely prices will rise in sympathy with the world market."

The company has used supplies from Venezuela but will now be looking to Caribbean and Texas refineries for the next supply because of the nationwide oil strike in Venezuela.

Esso General Manager Mark Fields said: "There will be an increase but I don't know how much at this point."

Mr. Rose said Shell had ordered a new gas supply which would arrive from the Caribbean in early February and last for at least three months.