The Competition Markets Authority (CMA) has announced that heating oil customers affected by price hikes during the US-Israel conflict with Iran will receive compensation.Over 1,700 households faced significantly higher prices or had their orders cancelled, with some losing up to £350.While some suppliers have agreed to reimburse customers, the CMA plans legal action against those who refuse.Wholesale oil prices surged from $70 to $120 per barrel during the conflict, leading to a 92% increase in retail prices.The CMA found that price hikes largely reflected rising costs but noted customers are less protected than grid-connected households.Recommendations include clearer pricing regulations and better support for vulnerable consumers.Chancellor Rachel Reeves emphasized the need for improved protections, while UKIFDA will collaborate on the report's findings.Affected customers will receive compensation for cancelled orders, though details on payouts remain pending.

The CMA's investigation highlights the vulnerability of heating oil users, many in Northern Ireland, who face higher costs without equivalent protections compared to electricity and gas customers.