Heating oil prices

That this House notes with concern the sudden and severe rise in heating oil prices as a result of the ongoing conflict in the Middle East, with prices almost trebling in a week; recognises that around a third of rural households rely on oil-fired heating and already face higher levels of fuel poverty; further notes that the cost of heating oil is not covered by Ofgem’s energy price cap and that households off-grid are therefore vulnerable to price spikes in the global energy market; notes with concern that Government action to support rural communities with increased heating oil prices amounts to just £35 per household; calls on the Government to go further and to provide urgent targeted support for rural communities by introducing a three-month zero-rating of VAT on heating oil for residential homes and to develop a mechanism to protect households reliant on heating oil from sudden price rises, similar to the energy price cap; and further calls on the Government to reduce long-term energy costs by upgrading homes, starting with free insulation for low-income households and ensuring that all new homes are built to zero-carbon standards.