What does the conflict in the Middle East mean for fuel pricing and availability?
As tensions in the Middle East continue, we know many customers will naturally have questions about how current events could affect their fuel supply. As an employee-owned business committed to transparent and reliable support, we aim to keep you informed at every stage.
To help, we’ve put together a set of frequently asked questions outlining what’s happening and what it could mean for your home, farm, or business – covering everything from pricing and stock availability to the steps you may want to take next.
We hope you find this guidance helpful. If you have any further questions, simply get in touch, and our team will be happy to assist.
How is the price of fuel going to be affected?
Every day, we purchase fuel, lubricants, and heating oil to directly fulfil our customers’ orders. The price we pay reflects market movements and any demand restrictions affecting these products at the point of purchase, including conflicts, sanctions, and political instability. Supply fears often cause prices to rise before any actual shortages occur, because global oil markets respond to anticipated risk as well as confirmed disruption. As a result, we only know the price we will be paying tomorrow.
How have prices changed, and how will they change?
Over the past two weeks, concerns over increased tensions in the Middle East have led to a rise in the price of oil, which has increased the cost of heating oil, fuel, and lubricants. This morning, the price of crude oil has risen again, which will affect the price you pay for your fuel over the coming days and potentially weeks.
However, experience from previous conflicts shows that prices do tend to stabilise over time, once the initial shock of military action has passed.
Will there be a shortage of heating oil or fuel?
While there may be some impact on supply, we have developed a strong supply chain over many years at Moorland Fuels. This gives us confidence that we will be able to meet your ongoing needs, helping to power homes, farms, and businesses across our community in Devon and South West England.
Will the price of the heating oil or fuel that I have already ordered increase?
If you have already placed an order, we will honour the price quoted to you.
Will the price of my heating oil increase if I haven’t placed an order yet?
Rather than inflating prices to cover unknown market movements, we have moved to ‘indicative’ pricing. This means we will provide an estimate of the likely order cost at the point of delivery, and we will call you the day before to confirm the final figure, giving you the option to proceed or cancel your order if desired.
Should I put my order on hold for now?
As the situation in the Middle East is fluid and fast changing, it is difficult to predict how supplies and prices may be affected in the coming days and weeks. If you are running low, our advice is to order as normal. Allowing your tank to run close to empty increases the risk of drawing sludge into your heating system, which can cause damage to your boiler. This could result in a far more expensive repair bill than ordering your heating oil or fuel at current daily rates.
With our Cosy Heating Club, you can order as little as 300 litres of heating oil at a time. So, if you’re not currently a member, it could be a beneficial time to join if you require a smaller top-up volume that can be spread across monthly payments.
Will prices of fuel and heating oil come down in the near future?
Experience shows that, following the initial shock of conflict, prices do tend to stabilise. This was the case after Russia invaded Ukraine in 2022. While prices may not fall as quickly as the market desires, we will always pass any reductions on to our customers.
If you have further questions about how the conflict in the Middle East may affect your fuel supply, or want to discuss your requirements in more detail, please reach out to our team.
