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Thousands of independent businesses across the UK are braced for their energy bills to more than double owing to the sharp rise in heating oil costs as the war in Iran pushed Europe\u2019s fuel market prices to fresh record highs.<\/p>\n
About 7% of all small and medium-sized companies warm their properties and provide hot water using heating oil, which in some cases has more than doubled in recent weeks.<\/p>\n
Companies in rural areas are often not connected to the gas grid, meaning they have an even greater reliance on heating oil, which is a form of kerosene linked to the cost of jet fuel. It is used by about 17% of rural small and medium-sized enterprises (SMEs), according to the Federation of Small Businesses (FSB).<\/p>\n The trade association has heard from members who have already begun rationing their fuel use to cope with the sharp rise in prices over recent weeks.<\/p>\n Anthony Jenkins, the owner of a hotel and restaurant in North Yorkshire, said his heating oil supplier had charged 54.9p a litre in January but had asked for 129p in late March.<\/p>\n \u201cMany rural businesses, including ours, need to rely on heating oil, but the price increases have been extraordinary. Our supplier refused to give us a firm quote for over a week after we booked a delivery, and told us the day before that it would be 116% higher than before the crisis,\u201d Jenkins said.<\/p>\n \u201cWe took only half what we usually do, and we\u2019ve asked our guests to help us to keep costs down by turning down their radiators if they are too warm rather than opening a window. They have all been happy to help because they are paying higher prices to fill up their cars, so they understand.\u201d<\/p>\n Jenkins said he hoped to rely more on solar heating for hot water as the days become longer and brighter to avoid inflating his \u00a33,000-a-year heating oil bill. \u201cLuckily, we fixed our electricity contract a few days into the conflict, but even then, deals were disappearing from the market,\u201d he said.<\/p>\n