Thieves target heating oil tanks as prices soar amid Iran war
Thieves are targeting heating oil tanks in Suffolk as prices rise amid the ongoing war in Iran.
Suffolk Police say two properties in the Woodbridge area have fallen victim to criminals looking to steal heating oil in recent days. The force also warned communities to be wary of “rogue traders” selling fake oil at cheap prices, which could damage heating systems.
It comes at a time when consumers are reporting staggering price increases, in some cases jumping from 62p per liter before the war to around £1.73 now.
Britain’s competition watchdog has launched an investigation into “problematic reports” of sudden price rises after Sir Keir Starmer said the government “will not tolerate” unfair price inflation.
Police have urged those with heating oil tanks to scan them to make them less visible from the roads and to secure them with CCTV cameras and padlocks to ensure the fuel is not stolen.
“Communities must remain vigilant about their own safety and also be wary of rogue traders selling oil at discounted prices,” a spokesman added. “This oil may contain other contaminants that can damage heating systems, leaving homeowners facing significant repair costs.”
Around 1.5 million homes across the UK rely on heating oil for warmth, and recent volatility in the global oil market has seen prices rise by as much as £100 in the last week alone.
Northern Ireland is particularly badly hit, with a staggering 62.5 per cent of homes dependent on fuel; this is just above the UK average of 5 per cent.
Those living in rural communities where homes are not connected to the main energy grid are also disproportionately affected.
Heating oil customers fall outside Ofgem’s energy price cap protection, which currently fixes prices until the end of June.
The Competition and Markets Authority (CMA) has confirmed it has launched an investigation following a number of complaints from customers.
These include claims that existing heating oil orders were canceled but then customers were offered new offers at significantly inflated rates.
CMA chief executive Sarah Cardell said: “We know many households are concerned about rising prices as global events push up wholesale oil costs.
“It is inevitable that some prices will rise, but these need to reflect real cost pressures.
“We have heard troubling reports from heating oil customers about canceled orders and sudden price increases, and we are acting quickly to get to the bottom of these concerns.
“As always, we stand with consumers and will ensure they are treated fairly.”
Chancellor Rachel Reeves said she would meet with the CMA on Thursday and said the government was working with the watchdog to tackle “all forms of price gouging” on heating oil.
