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High oil prices caused by conflict in the Middle East mean that people who rely on heating oil to heat their homes are struggling to buy at a reasonable price.
Around 1.7m homes in the UK, usually those in rural areas, depend on heating oil to heat their homes and provide them with hot water, but prices have risen dramatically in recent weeks. There is no cap on domestic heating oil costs, as there is for gas and electricity prices, which means when it comes to costs, the sky’s the limit. The price of kerosene, which is the fuel used for heating oil, has been particularly affected by the Iran War, and at the time of writing was double that of crude oil.
The government announced that low income homes heated by oil will receive access to “crisis payments” from funds administered by councils from the Crisis and Resilience Fund (CRF). This comes into effect from 1 April, with those areas with higher rates of oil heating receiving the highest amount of funding. Northern Ireland, where a greater proportion of homes rely on heating oil, has been allocated £17 million, England will receive £27 million, Scotland £4.6 million and Wales £3.8 million.
The government said it intends to introduce new consumer protections for heating oil customers and is “rapidly exploring” new ways to step in and ensure households are better protected.
Kerosene was selling for around 62p per litre on March 1, which makes the cost of 500 litres about £325.50 (including VAT at 5%). Comparatively, the same amount of oil bought on March 16 would have set you back around £1.73 a litre or £908.25.
We’ve put together a few tips on what you can do if you use heating oil for your home and are finding costs unaffordable.
Compare costs
Ring around several different suppliers to try to find the most competitive price possible for your heating oil. There can be quite wide price differences depending on which supplier you go to. Heating oil comparison sites include Boilerjuice.com, HomeFuelsDirect.co.uk and OilCompare.co.uk, but it’s worth ringing round smaller local suppliers too.
You may want to check whether there is a local oil club you can join in your area. These work by grouping together orders and bulk-buying heating oil, which enables members to benefit from cheaper costs.
A spokesman for group-buying site The Oil-Club, said: “We aim to provide the best savings possible by purchasing heating oil in bulk for each village. Most of the vehicles our suppliers use will hold up to 15,000 litres of heating oil. So once we have enough orders for your village we will start the order and delivery process. The more members you have in your village the more frequently we can arrange deliveries, and the better the price. Once a member you can see the progress of your group.
“Ordering smaller amounts such as 500 or 1000 litres from your supplier directly is costly. But because The Oil-Club will be ordering a large quantity for a number of other people in your area, you are able to top up 500 or 1000 litres and benefit from the overall bulk purchase, thus saving you money on every order.”
Are there any other ways to heat your home?
If you have any other methods to warm your home while keeping your oil usage low then these could be worth making the most of.
If you have a wood-burning stove, for example, then you may need to rely on this more than usual if you’re finding it hard to come by heating oil at a price you can afford.
If your home is poorly insulated, there may be improvements that can be made to your home to make it warmer via insulation and heating schemes which provide funding to make properties more energy efficient.
You can use the links below to find out more about schemes that may be available to you depending on where you live:
Secure your oil supply
Rising heating oil prices often lead to an increase in oil theft, with thieves draining tanks while homeowners are out, or under the cover of darkness.
Make sure your oil tank is in a well-lit area, or fit security lighting near it. It’s also a good idea to install an alarmed lock to prevent your supply from being stolen.
What if you can’t afford to buy oil?
Get in touch with your local Citizens Advice Bureau if you can’t afford to buy heating oil – they may be able to point you in the direction of charities which might be able to provide you with financial support or grants to put towards your heating oil costs.
You should also check your local council’s website for the Household Support Fund or local welfare schemes to help pay for heating bills. Learn more about the Household Support Fund in our guide The Household Support Fund explained.
You may be eligible for a Winter Fuel Payment if you were born on or before 5th April 1954. There are different rates of payment depending on age, whether you are receiving pension credit or social security benefits, and whether you live in a care home. You could be entitled to between £100 – £300, which can be used to help cover heating oil costs. Find out more in our guide Are you eligible for help with heating costs?
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