As featured in
The Guardian
The Guardian
The Guardian
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07304 285 482Supplier heating oil price per litre (1,000L)
Source: Fueltool supplier prices
19 July 2026
Brent crude has climbed to around $88 a barrel, up more than 14% in a week, after hostilities between the US and Iran escalated across the Gulf. Shipping traffic through the Strait of Hormuz has fallen sharply since the latest strikes, and traders have added a larger risk premium on fears of disruption to Middle East exports.
That jump in wholesale costs is feeding through to UK kerosene. Our Fueltool price tracker now has the average supplier price at roughly 92 pence per litre on a 1,000 litre order, up from around 84ppl a week ago and lows near 77ppl at the start of July. Even after the rise, the average is still about 16% below where it stood in late April.
Near-term direction rests largely on events in the Gulf. OPEC+ has agreed a further output increase of 188,000 barrels per day from August, but with Hormuz traffic still reduced the market is treating the immediate supply risk as the stronger force, and UK delivered prices are tracking that wholesale move.