With the latest industry figures revealing a further 7.8% fall in the cost of heating a typical home using oil in the last three months, OFTEC says the case for consumers to stick with, or even switch to, oil is growing stronger, emphasising the need for an urgent change to the Government’s low carbon heat strategy.

Data from the latest Sutherland Tables shows that the cost of heating an average three bedroom home with oil in the UK is now just £731 per year. This is 28% cheaper than mains gas, 51% cheaper than LPG and 54% cheaper than electric storage heaters, OFTEC says.

With many predicting that oil prices will remain low for the foreseeable future, OFTEC is urging the Government to recognise the current position and adopt a new approach to reducing carbon emissions from heating, especially for off grid households.

According to OFTEC, instead of incentivising 100% renewable heating technologies which, for the average consumer, are prohibitively expensive and impractical to install, the focus should be on providing practical, affordable measures that help households to upgrade their existing heating systems.

OFTEC director general Jeremy Hawksley said: “Government needs to acknowledge that cost remains the major motivator for most consumers and with oil prices now reaching a ten year low, there is little incentive for households to change their heating systems, even with the help of schemes such as the domestic Renewable Heat Incentive.”

OFTEC says that if a boiler scrappage scheme, similar to the initiative launched in London earlier this month, were to be rolled out across the country, the total carbon savings would be huge.