Simon Francis, coordinator of the End Fuel Poverty Coalition, said: “It is right that the government is asking the Competition and Markets Authority to keep a close eye on prices as global tensions drive up costs.
“Around 1.5 million UK households rely on heating oil, and these homes sit completely outside the energy price cap.
“That means as global oil markets spike, families in rural and off-grid homes have seen the costs they are expected to pay more than double in less than two weeks.
“While transparency and scrutiny are essential to ensure households are not being overcharged, it is becoming increasingly clear that the government may have to act in the weeks ahead to provide further protections and support for these households.
“Longer term, the lesson is clear, leaving so many homes dependent on volatile fossil fuel markets exposes them to repeated price shocks.”
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