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Summary * Heating oil prices were volatile in March 2022 due to the Russian invasion, and prices spiked to over £1+ ppl. * Since April, prices have started to settle, but stayed around 85-100 ppl on average. * Some heating oil households are looking at a 50% increase in heating bills this winter in comparison to last year. * Apart from the Russian invasion, other factors that impact heating oil costs are the cost of storage and distribution. * BoilerJuice data shows that some heating oil households have been delaying their top-ups. If prices see no movement before winter, there may be a spike in demand leading to longer delivery windows and higher prices this winter.

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