Heating Oil Suppliers Warn of Risks as Customers Delay Orders Amid Price Concerns

Heating oil suppliers are cautioning customers against delaying orders in anticipation of falling prices, warning that such actions could lead to running out of fuel or facing even higher bills. Companies in regions like Berkshire and Hampshire report that sales are currently lower than expected, despite the approach of colder weather.

UK heating oil prices have seen a significant increase, rising approximately 75% since late February, according to data from the BoilerJuice website. Dave Marsh of Marsh Fuels, based in Newbury, noted that his company is experiencing lower sales volumes than typical for this time of year. "We've made the assumption that customers are hanging on, trying to eke out that little bit of oil they've still got left in the bottom of their tank, hoping for the price to dip," Marsh said. He added that this strategy can be risky, as a sudden cold snap could leave customers unexpectedly low on fuel.

Andrew Illingworth, who coordinates oil purchases for residents in Broughton, Hampshire, has also observed a decrease in order numbers. "A lot of them are holding off at the moment," he stated. "They're hoping that it's going to go back down again, but who knows at the moment."

Chris Wheeler, a resident of Bucklebury, Berkshire, expressed frustration with the fluctuating prices. "You never know what's going to happen," Wheeler said. "Except at the moment all you can expect is that the price is going to go up. So we're trying to manage our purchases so that we can buy it when it's at its cheapest."

Energy expert Ellen Fraser advises purchasing heating oil sooner rather than later. "We're expecting those prices to stay high until at least April and May, which is obviously far too late to fill the tank," she told BBC Radio 4's Money Box programme.

The Fuel Distribution Association (UKIFDA) has previously advised customers to prepare for potential periods of high demand, severe weather, or unexpected delivery disruptions. Chief executive Ken Mackness highlighted the impact of global events on energy markets, citing "how quickly international developments can affect wholesale energy markets."

In response to rising costs, the government announced a £50 million emergency fund in March to assist families struggling with heating oil expenses.