{"id":462878,"date":"2026-03-07T16:43:16","date_gmt":"2026-03-07T16:43:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/462878\/"},"modified":"2026-03-07T16:43:16","modified_gmt":"2026-03-07T16:43:16","slug":"martin-lewis-warns-heating-oil-prices-extremely-excessive-as-iran-conflict-drives-uk-household-costs-higher","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/462878\/","title":{"rendered":"Martin Lewis warns heating oil prices ‘extremely excessive’ as Iran conflict drives UK household costs higher"},"content":{"rendered":"

Martin Lewis has warned households about what he called \u201cextremely excessive\u201d heating\u2011oil price rises as the conflict involving Iran continues to push global energy costs higher.<\/p>\n

Speaking on his BBC podcast, the money\u2011saving expert highlighted a stark example from a listener in Lincolnshire who ordered 1,000 litres of heating oil for \u00a3645 \u2014 only to find the same supplier quoting \u00a31,480 shortly afterwards, an \u00a3835 jump. <\/p>\n

\u201cI\u2019ve heard about rises, but that example is extremely excessive,\u201d he said.<\/p>\n

Oil prices have surged since the Middle East crisis escalated, with off\u2011grid households feeling the impact immediately. Mr Lewis said those nearing the end of their tank could face particularly steep costs.<\/p>\n

\u201cIf you\u2019re unlucky enough to be coming to the end of your tank right now and having to refill it, it is going to be extremely costly.\u201d<\/p>\n

He urged households to compare prices before ordering.<\/p>\n

\u201cRemember you\u2019ve got to go and do a comparison on heating oil,\u201d he said, noting heating\u2011oil costs track international oil and gas markets and tend to rise quickly when wholesale prices spike.<\/p>\n

Options for consumers are limited, he acknowledged. \u201cSadly, barring doing the comparison and collective buying, I don\u2019t have many solutions on that.\u201d<\/p>\n

\"Martin<\/p>\n

Martin Lewis has warned households about what he called \u201cextremely excessive\u201d heating\u2011oil price<\/p>\n

| <\/p>\n

ITV\/THE MARTIN LEWIS MONEY SHOW LIVE <\/p>\n

Mr Lewis encouraged rural households to consider joining forces with neighbours to negotiate better rates. \u201cIt\u2019s worth, if you\u2019re in a rural area\u2026 talking to neighbours and other people in your area,\u201d he said.<\/p>\n

\u201cOften collective buying can cut the costs, so you all negotiate a cheaper price by going with the same oil firm.\u201d<\/p>\n

The approach is long\u2011established in areas without access to mains gas and has become increasingly relevant as heating\u2011oil prices climb.<\/p>\n

Mr Lewis also renewed his call for stronger regulation of the home\u2011heating\u2011oil market, which he said has historically faced far less oversight than other parts of the energy sector.<\/p>\n

\"Energy<\/p>\n

Bills could increase as a result of sustained conflict in the Middle East<\/p>\n

| <\/p>\n

GETTY<\/p>\n

\u201cWe have under\u2011regulated home heating oil in this country for far too long and left people in rural communities in the lurch on it,\u201d he said.<\/p>\n

He previously raised the issue with MPs during House of Commons energy\u2011committee hearings. \u201cI\u2019ve given evidence\u2026 trying to say we should bring this into proper and better regulation, like we\u2019ve now brought heat networks into proper and better regulation,” Mr Lewis said.<\/p>\n

“As far as I know nothing has changed.\u201d<\/p>\n

Rural households reliant on heating oil remain particularly exposed to global market swings, with fuel costs rising sharply whenever international oil prices increase.<\/p>\n

Michael Shanks MP, Labour’s energy minister, took to X to say: “Heating oil is essential for many in our rural communities.<\/p>\n

“We understand the worry families may be facing, including around the cost of living. As the Energy Secretary said yesterday, this government has shown our determination to help working people and continue to do so.<\/p>\n

“Any price gouging will not be tolerated \u2013 and industry leaders were in full agreement on this. We keep the situation under close review and stand ready to support consumers.”<\/p>\n","protected":false},"excerpt":{"rendered":"Martin Lewis has warned households about what he called \u201cextremely excessive\u201d heating\u2011oil price rises as the conflict involving…\n","protected":false},"author":2,"featured_media":462879,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,585,2897,2222,50,56,54,55,231],"class_list":["post-462878","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-iran","tag-martin-lewis","tag-money","tag-news","tag-uk","tag-united-kingdom","tag-unitedkingdom","tag-world-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/462878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=462878"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/462878\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/462879"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=462878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=462878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=462878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}