Fuel Oil: Prices
The question
To ask the Secretary of State for Energy Security and Net Zero, what assessment his department has made of the potential merits of introducing a consumer price cap for heating oil, as is used for on-grid gas and electricity consumers.
Answered by Martin McCluskey
Introducing a price cap on heating oil risks significant unintended consequences. If wholesale costs rose above the cap, it could drive distributors out of the market and possibly result in supply shortages.
Unlike gas and electricity, heating oil customers can shop around for the best prices delivery‑by‑delivery. There are commercial price comparison websites to help consumers find the best deal.
We continue support the transition away from fossil fuels to strengthen long-term resilience, while we keep under review whether any further action may be needed to protect consumers.
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