The government has announced new measures aimed at regulating the heating oil market and reviewing the minimum amounts some customers have to buy. This comes as heating fuel costs have increased by up to 82% since the start of the US-Israeli war with Iran.
Minster for Energy Consumers Polly Billington stated that the government needs to ensure the market is operating as fairly as possible. She highlighted that rural communities, with many residents off the main energy grid, are particularly vulnerable to these price increases.
Residents in the South West have reported difficulties in affording to heat their homes. Nicola Sharpe from Dunsford, Devon, noted that the price for 500 litres of heating oil has risen from approximately £340 last year to just over £600 currently.
Earlier in October, the government committed to better regulation of the sector, including tightening rules, promoting competition, and establishing clearer compensation routes for customers. In March, a £53m support package was announced for low-income families who use heating oil.