Risks being taken with heating oil orders, firm says
Summary
A heating oil supplier in the south of England says many customers are waiting to refill their tanks in hopes that prices will drop. However, this could lead to running out of oil or paying more if cold weather arrives suddenly and oil prices do not fall.Key Facts
- Heating oil prices in the UK have risen by about 75% since the Iran conflict began on February 28.
- Sales of heating oil are lower than expected as customers delay orders to avoid high costs.
- Customers risk running out of oil if they wait too long and colder weather arrives.
- Experts advise buying heating oil now, as prices are expected to stay high until at least April or May.
- The Fuel Distribution Association warns of possible increased demand, bad weather, or supply delays this winter.
- The UK government announced a £50 million emergency fund to help families struggling with heating oil costs.
- Some residents and suppliers say it is difficult to predict prices because they go up and down unpredictably.
- People are trying to manage their oil purchases carefully to buy at the cheapest times.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
