// BBC BUSINESS NEWS — FINANZA
Buy now or wait and hope? Families face gamble on heating oil
John Craggs, 73, from Wigtoft, near Boston, checks the amount of heating oil in his tank
As the summer draws to a close, families who rely on fuel oil to heat their homes are facing a dilemma.
The price has almost doubled over the past year, following the outbreak of conflict between the US and Iran.
It has left people wondering whether to buy now for the winter, or hold off in the hope that prices will fall – with the risk that they could rise again.
John Craggs, 73, from Wigtoft, near Boston, Lincolnshire, needs to fill his tank ahead of winter.
"Over the next few weeks I'll be monitoring the price to see if it goes down a little bit and then order the oil," he says.
But whatever they decide, he and his wife Libby, 80, are planning to limit their heating this winter because of the cost.
"We've both had health problems over the last few years and we should be keeping warm but its just too expensive," John Craggs adds.
"We will only have the heating on up to about 17 degrees in three of the rooms in the house, between about 3pm and 8pm, just to keep the cost down to be able to afford it."
John and Libby Craggs say they are not eligible for support for the cost of the oil