Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, if she will make an assessment of the potential merits of introducing a price cap for heating oil.

The Government recognises the concerns of households that rely on heating oil. Unlike gas and electricity, heating oil is bought as a single delivery at the prevailing market price, so prices respond quickly to wholesale costs, international oil markets, seasonal demand and local delivery conditions. The Competition and Markets Authority found that the market is generally competitive and that recent price increases largely reflected wholesale costs.

The Government published its formal response on 13 October and will regulate the heating oil market for the first time, developing a proportionate regime to strengthen fair treatment, transparency, protections for vulnerable households and routes to redress, while preserving competition and security of supply.