Stories

Thu, 12 Mar 2026

Thu, 12 Mar 2026 'Heating oil suppliers are holding us to ransom'

People across the South East say the cost of heating their home soared after war broke out in Iran.

* A man from Surrey, Keith Bainbridge, says people relying on heating oil are being "held to ransom" by suppliers due to sudden price increases.
* The price of his heating oil has more than doubled since the outbreak of war in the Middle East.
* The UK and Ireland Fuel Distributors Association claims its members are doing everything they can to support households with oil heating, but wholesale prices are reflected quickly in customer prices.
* A trade association representative says distributors buy fuel almost daily, leading to rapid price increases for customers.
* Keith Bainbridge is avoiding using his heating oil until the situation improves and has cancelled future orders due to the high costs.
* Jason Barge, a homeowner and business owner, says recent "ridiculous" price increases are affecting both his home and business, which rely on heating oil.
* 1.5 million homes in the UK use heating oil rather than gas, according to the Competition and Markets Authority.
* Complaints have been made about suppliers cancelling orders and offering new quotes at increased prices, as well as higher costs for automated deliveries triggered by low fuel levels.
* Local MP John Milne is calling on the government to remove VAT from heating oil in the short term and implement a price cap similar to Ofgem's.
* Chancellor Rachel Reeves says the price gouging seen in the market is "totally unacceptable" and that there is no excuse for businesses to take advantage of customers.
* Ed Miliband suggests the competition watchdog may intervene if firms use the oil price shock as an opportunity to rip off customers.