OVER one million Brits that use heating oil are already ‘starting to suffer’ as a result of the conflict in the Middle East.
These 1.5million households across the UK are not connected to the gas grid and rely on the product to warm their homes.
This also means customers are not protected by Ofgem’s energy price cap, which limits how much energy suppliers can charge customers.
It comes as US-Israeli strikes on Iran have sent markets into a frenzy.
Iran has disrupted oil and gas supply through the Straight of Hormuz, an important export route.
Figures from BoilerJuice, a price comparison site and energy provider, show that prices have jump by 63p since Saturday to £1.29p per litre.
Simon Francis, coordinator of the End Fuel Poverty Coalition, said homes heated by oil are already beginning to suffer.
“These homes are also those that are among the deepest fuel poverty as the cost of home improvements which could help reduce energy use can be prohibitive.
“This means that when overseas conflicts send oil prices soaring, the cost of heating for families in rural and off-grid homes can jump almost overnight.
He added: “While other households are protected by the energy price cap for now, homes heated by oil are starting to suffer now and may need urgent support.”
During the last energy crisis the government introduced a separate Alternative Fuel Payment worth £200 for households using fuels such as heating oil, LPG or biomass.
It comes as households on the grid are also bracing themselves for increased costs in the coming month.
Analysts at Cornwall Insight say the average annual bill could jump by £160 to reach £1,801 when the next Ofgem price cap is set in June.
For now, most customers remain protected by the price cap, which will fall from £1,758 a year to £1,641 for the three months between April and July.
Meanwhile, dozens of cheap tariffs have been axed or repriced in the past few days as UK energy suppliers respond to the issue.
And it is not only energy bills which are set to increase, petrol prices surged to their highest level in over a year this week.
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