What assessment he has made of the potential impact of increases domestic heating oil prices following developments in the Middle East on households; what steps his Department is taking to monitor pricing practices among heating oil suppliers; and what steps he is taking to support rural households that rely on heating oil where price increases place pressure on household finances.
The Government is closely monitoring heating oil, petrol and diesel prices in light of instability in the Middle East. International kerosene prices are >75% higher than they were before the conflict and this is putting pressure on heating oil prices. The Secretary of State has written to the industry reminding heating oil distributors of their commitments under the UKIFDA Code of Practice, including the need for fair, transparent and justifiable pricing. Ministers have also spoken with the Competition and Markets Authority, who have announced they are reviewing evidence of potential unfair practices and anti-competitive behaviour. We are keeping under review whether any further support or action is needed to protect consumers.