Small UK firms’ energy bills set to more than double due to Iran war

Companies using heating oil have already begun rationing their fuel use, says Federation of Small Businesses

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Thousands of independent businesses across the UK are braced for their energy bills to more than double owing to the sharp rise in heating oil costs as the war in Iran pushed Europe’s fuel market prices to fresh record highs.

About 7% of all small and medium-sized companies warm their properties and provide hot water using heating oil, which in some cases has more than doubled in recent weeks.