David Blevings, spokesperson for NIOF said, “this is good news for the local oil sector. We always knew the local market was competitive and it is great to see this confirmed by the CMA”.
The CMA commented that “Overall, the evidence shows that the home heating oil market is typically competitive, with retail prices closely linked to wholesale prices and distributors’ operating margins generally thin.”
With around 200 distributors competing for business, the market here is very competitive with consumers in NI buying their home heating oil at 1.5% below the GB average and 17% below the cost of kerosene in the Republic.
Regarding recommendations made in the report David added, “we think consumers in NI are well aware of payment options and minimum order requirements but are happy to work with local Government to review consumer protection initiatives, awareness of and access to alternative dispute resolution and codes of conduct”.
“NIOF already has a customer charter in place offering a framework for delivery standards and clear complaints procedure. All NIOF members have signed up to a customer charter which is supported by the Consumer Council and customers can ask for a copy of this documentation or download it from the www.nioil.com website,” added David.