UK Heating Oil Costs Up 82% Since US-Israel-Iran Conflict, Government Announces Market Regulation

3-line summary

• UK heating fuel costs have risen by up to 82% since the start of the US-Israeli war with Iran, Minister for Energy Consumers Polly Billington told the BBC; the government announced new measures to regulate the heating oil market, including tighter rules, promoting competition, clearer customer compensation routes, and a review of minimum order levels some customers must buy.
• Billington said rural communities 'off grid' are among the most exposed to the price increases; one resident in Devon said she paid about £340 for 500 liters a year ago versus just over £600 currently, and another in Cornwall said rising costs mean she can no longer afford to fill her tank.
• In March, the government had announced a £53 million support package for low-income families who use heating oil; some residents told the BBC they doubt the new regulatory measures will bring costs down.

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