Business · Energy & Commodities · 1 hr ago

Rising heating oil prices strain rural households and businesses

Rising heating oil prices strain rural households and businesses

About 1.5 million people in the UK are not connected to mains gas and rely on heating oil, most of them in rural areas.

Heating oil prices are not regulated like gas and electricity prices, so changes in global supply can quickly affect customers.

The price was about 60p per litre until March, then rose to 134p after the war in Iran began, and now stands at 111p, according to Boiler Juice.

A typical 500-litre tank now costs about £550 to fill.

Retired resident Peter Mason in north Wiltshire says that is far more than the roughly £300 he paid last year, and he will have to use his savings carefully.

Rural businesses are also facing higher fuel costs, with some raising service prices or considering increases to what they charge.

As colder months approach, some customers are buying oil early to prepare for winter.

Sources

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