Households who rely on heating oil to warm their homes have seen a 92% price increase over the last year, a fuel poverty charity has warned.
More than 1.5 million UK households use oil to heat their homes, with the majority in rural locations and without access to the main gas network.
Fuel Bank Foundation’s oil tracker, which tracks the cost to consumers of filling a heating oil tank, found that 1,000 litres of oil now costs on average £937, compared to £480 in March last year.
The charity said that unlike electricity and mains gas supply, the solid fuel market is currently unregulated which means that with oil prices fluctuating daily consumers are exposed to higher fuel costs.
Fuel Bank Oil Tracker
| Month/Year | Monthly Average Cost (1,000 litres) |
| January 2021* | – |
| February 2021 | £486.33 |
| March 2021 | £480.63 |
| April 2021 | £468.65 |
| May 2021 | £439.08 |
| June 2021 | £479.50 |
| July 2021* | – |
| August 2021 | £546.00 |
| September 2021* | – |
| October 2021 | £559.13 |
| November 2021 | £606.38 |
| December 2021 | £577.46 |
| January 2022 | £619.94 |
| February 2022 | £702.21 |
| March 2022 | £937.16 |
*Insufficient data for these months
“Staggering and concerning”
Matthew Cole, head of the Fuel Bank Foundation, said the war in Ukraine and the rising oil and gas prices have pushed up heating oil costs for consumers to record levels.
He said: “For the first time since we started tracking heating oil prices, we have seen the cost of 1,000 litres break through £1,000, which is staggering and concerning for those who rely on it to heat their homes.
“As well as soaring costs, we are also hearing reports of deliveries being rationed due to supply issues and in some cases no heating oil being available at all.
“Notwithstanding the supply issues, people who are struggling financially due to the rising cost of living may now be forced to ration or put off refilling their oil tank, leaving them without heat, hot water and a means of cooking a hot meal.”