With heating oil prices rising in recent months, we understand that many customers are concerned about the cost of heating their homes.
The UK Government has today published its response to an independent investigation by the Competition and Markets Authority (CMA) into the heating oil industry.
What Did the Investigation Find?
The CMA confirmed that:
- Heating oil prices have largely increased due to rising wholesale costs, rather than excessive profits made by suppliers.
- The heating oil market is generally competitive, with customers having a choice of suppliers.
- Global events, including conflict in the Middle East, have significantly affected wholesale fuel prices.
- The Government is not introducing a heating oil price cap at this stage.
What Does This Mean for Our Customers?
Heating oil prices are influenced by global markets, meaning prices can rise or fall quickly for reasons outside the control of local distributors.
At Nolan Oils, we understand the financial pressures facing households, particularly as winter approaches.
As a family-run, independent business, we remain committed to offering competitive prices, reliable deliveries and friendly, honest service to our customers across Oxfordshire and the surrounding areas.
We will continue keeping you informed of any significant developments affecting heating oil prices.
Read the full Government response here:
