What happened: Thousands of UK small businesses that use heating oil are seeing their energy costs more than double due to price spikes linked to the conflict in Iran. Some firms have started rationing fuel to manage rising expenses.
Why it matters:
- Higher energy bills increase operational costs for 7% of UK small and medium-sized businesses using heating oil.
- Rising fuel prices could strain business finances and affect heating and hot water availability.
MNN Take: The war in Iran has disrupted fuel markets, pushing heating oil prices to record levels, which directly impacts UK companies reliant on this energy source.
Sources: Guardian UK