The UK government plans to regulate the heating oil market and review minimum purchase requirements after prices jumped sharply due to the US-Israeli conflict with Iran. The Minister for Energy Consumers Polly Billington told the BBC that heating fuel costs have risen by up to 82% since the start of the conflict. She said the government needed to ensure the market was working fairly, particularly for rural communities that are heavily dependent on oil heating.
The proposed measures, announced earlier in October, include tightening market regulations, promoting competition and providing customers with clearer compensation routes if problems occur. However, some customers expressed scepticism about whether the steps would bring prices down. Residents in the South West told the BBC they had delayed buying fuel for winter in hopes of price falls, with some fearing people might go without heating altogether.
One Devon resident reported paying around £340 for 500 litres of heating oil a year ago, compared with just over £600 for the same amount now. A 76-year-old from Cornwall said she had already spent more on two deliveries this year than in previous years and warned many people would struggle to afford heating. Another customer said she could no longer afford to fill her tank despite budgeting carefully throughout the year.
In March, the government announced a support package worth £53m for low-income families using heating oil.