Thieves are targeting heating oil tanks in Suffolk as prices soar amid the ongoing war in Iran.
Suffolk Police said two properties in the Woodbridge area had been victims of criminals looking to steal heating oil in recent days. The force also warned communities to be wary of “rogue traders” selling bogus oil for low prices that could damage heating systems.
It comes as consumers have reported staggering price rises, in some cases jumping from 62p a litre before the war to around £1.73.
Britain’s competition watchdog has launched an investigation into “troubling reports” of sudden price hikes as Sir Keir Starmer said the government will “not tolerate” unjustified price inflation.
Police have urged those with heating oil tanks to screen them, to make them less visible from roads, and secure them with CCTV and padlocks to ensure the fuel is not stolen.
“Communities should remain vigilant about their own security and also be wary about rogue traders selling oil at a discounted price,” a spokesperson added. “This oil might contain other contaminants that could damage heating systems, leaving householders with significant repair costs.”
Approximately 1.5 million homes across the UK rely on heating oil for warmth, and recent volatility in the global oil market has seen prices surge by as much as 100 per cent per delivery in just the last week.
Northern Ireland is particularly badly affected as a staggering 62.5 per cent of homes depend on the fuel, against the UK average of just over five per cent.
Those 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) confirmed it had initiated a review following numerous complaints from customers.
These include allegations that existing orders for heating oil have been cancelled, only for customers to be subsequently offered new quotes at significantly inflated rates.
Sarah Cardell, chief executive of the CMA, said: “We know many households are worried about rising prices as global events push up wholesale oil costs.
“It’s inevitable that some prices will rise, but they should reflect genuine cost pressures.
“We’ve heard troubling reports from heating oil customers about cancelled orders and sudden price increases – and are moving quickly to get to the bottom of these concerns.
“As always, we stand by consumers and will make sure they are treated fairly.”
Chancellor Rachel Reeves said she was going to meet with the CMA on Thursday and that the government was working with the watchdog to tackle “any price gouging” in heating oil.
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