More than 1.6 million households still rely on heating oil for their energy, and three quarters are over-paying by £80 a year because they haven’t switched supplier, new research shows.
Those not connected to the national gas grid instead use heating oil (gas or kerosene), typically stored in a tank in the garden, to heat their homes. But these customers are failing to shop around.
Research from BoilerJuice, a domestic heating oil comparison site, shows one in three households who use heating oil have never switched supplier, and one in seven hasn’t switched for more than 10 years.
The cost of not switching means that 786,000 households are paying nearly £80 more per year than those who do.
Consumers who buy heating oil at the last minute end up paying on average 40.2p per litre compared to 38.8p per litre for those who buy it in advance, adding an extra £30 to the average bill.
Mark Todd, co-founder of comparison site Energy Helpline, said: “Retail prices on heating oil have fallen dramatically in recent years – nearly one third in the past four years, but have been on the rise since early 2016.