UK pledges 53 mln pounds to help vulnerable households absorb heating oil price rise

LONDON, March 16 (Reuters) - Britain will provide a 53-million-pound ($70.30 million) package to help the most vulnerable households cope with the rising cost of heating oil, Prime Minister Keir Starmer said on Monday, as the conflict in the Middle East continues.

The government said the price of kerosene - fuel used for heating oil - has been especially affected by the conflict in the Middle East and now stands at twice the cost of crude oil.

The financial support will be especially beneficial for low-income households in rural areas, particularly in Northern Ireland, where a much greater proportion of homes depend on heating oil, the government said.

Northern Ireland will receive 17 million pounds, England 27 million pounds, Scotland 4.6 million pounds, and Wales 3.8 million pounds.

Other measures include introducing stronger consumer protections in the heating oil market and providing support to the competition watchdog to conduct a more comprehensive examination of the industry.

Starmer also said he would not allow energy companies to profit from people's hardship, adding that the government was issuing legal directions to ensure companies pass savings on to consumers.

($1 = 0.7539 pounds)