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 impact of the Iran War on heating oil costs for houses and businesses in Harpenden and Berkhamsted constituency.
Answered by Martin McCluskey
The Government is aware of the exposure heating oil has to the short-term volatility in global oil prices, which we recognise it is a significant concern for those reliant on it.
This is why the Chancellor announced £53 million for low income families, who heat their homes with oil to help tackle surging prices, £27m is for England and is being delivered through the Crisis and Resilience Fund in England.
The Department has also worked closely with the Competition and Markets Authority to monitor profiteering or unfair practices.
The CMA has commenced an accelerated Heating Oil Market Study, and are looking into further consumer protections.
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