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Firms that offer heating oil and liquid petroleum gas (LPG) to four million homes not on the gas network have been cleared of profiteering by the Office of Fair Trading. The OFT started an investigation in January after prices shot up last winter. But the regulator said this "price spike" lasted only a short time. It said it was due to a sudden 40% increase in demand and supply problems, caused by the severe cold weather. The OFT said that in fact, 90% of the change in the price of customers' heating oil was due to changes in the price of crude oil.
"On the whole, competition works well, with consumers offered a good choice of suppliers, and the off-grid sector does not need price regulation," the OFT said.
"However, the OFT does have concerns that some heating oil and possibly some other off-grid fuel suppliers may not be...Read more here---> BBC News - Heating oil firms cleared of rip-off
Forum Archieve by the OFT on 9th September 2011: LINKY
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