The government has unveiled new plans to combat fuel poverty in light of record oil price rises this year.Oil prices have doubled over the past year and concerns have been raised about the ability of the elderly and vulnerable people to pay their fuel bills.According to regulator Ofgem, the new meas... More
Soaring oil prices around the world have caused a sharp rise in the number of heating oil thefts taking place.Dipstop, based in Shropshire, told the Independent that it has witnessed a 45 per cent rise in sales of anti-theft devices for diesel tanks since the start of the year.Concerns about 'fuel r... More
Chancellor Alistair Darling and prime minister Gordon Brown are meeting with oil chiefs today in a bid to encourage them to increase production and ease oil price rises.Oil prices have soared by around 40 per cent since the start of 2008 and almost doubled over the past year, significantly raising e... More
Oil prices have slid back slightly from reaching record highs in recent weeks.The weak US dollar and supply concerns are continuing to keep prices high and oil held steady at $133 (£67.40) a barrel during early Tuesday trading in Asia.However, prices have eased slightly from highs of more than ... More
Oil prices could reach $200 (£101.13) in the coming months, one expert has suggested, something that would mean home heating oil users could see their bills increase considerably.A new record was once again achieved yesterday, as oil prices surged to $135 a barrel, according to the Guardian.Fur... More
The daily average price of the Organization of Petroleum Exporting Countries (Opec) has risen above $121 (£61.25) a barrel for the first time.According to the Vienna-based oil producers' cartel, it has no intention of increasing production ahead of its September meeting, despite calls from arou... More
Oil prices rocketed to more than $129 (£65.6) per barrel in New York trading this week and caused the US stock market to stumble.The global price of oil was pushed up yet again to record levels after oil producers' cartel Opec revealed that it has no plans to boost production before its Septemb... More
Oil prices are continuing to increase, rising 29 cents in Asian trading.US light, sweet crude oil is now priced at $127.34 (£65.03) a barrel, close to the unprecedented levels reached recently, the Associated Press reports.A record level of $127.98 was struck last week, despite an announcement ... More
A decision by Saudi Arabia to boost oil production has failed to cause oil price falls around the world.The price of US light, sweet crude soared to a record $127.98 (£65.41) a barrel last week as concerns grew that China would be forced to import more supplies to support reconstruction efforts... More
Oil prices have fallen back at the end of the week after the US Energy Department reported a higher than predicted rise in natural gas supplies.The price of oil soared to record highs earlier this week as a result of supply concerns and a weak US dollar.Home heating oil customers have seen their cos... More
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