Energy and fuel costs are once again becoming a major concern for UK businesses, with the latest figures showing worries have reached their highest level since records began.

According to the latest Office for National Statistics Business Insights and Conditions Survey, published on 8 October 2026, 72% of businesses reported some concern about energy prices during the two weeks to 4 October.

That’s the highest proportion recorded since the question was first asked in March 2026.

Unsurprisingly, some sectors are feeling the pressure more than others. In accommodation and food services, where energy use can be particularly significant, 91% of businesses said they were concerned about energy prices.

Fuel costs are causing concern too

It’s a similar story when it comes to fuel.

Some 73% of businesses reported concerns about fuel costs, another survey high. Transportation and storage businesses were the most concerned, which is hardly surprising given how directly fuel prices affect their day-to-day costs.

There were some more positive figures within the survey. 95% of businesses were trading fully or partially, although supply chains remain a concern for larger firms.

Almost half, 48%, of larger businesses reported at least one supply chain worry, with international conflict and disruption to shipping among the main concerns.

The survey also gives an interesting indication of how quickly businesses are adopting new technology. 30% of businesses reported using artificial intelligence in September, compared with just 9% three years earlier.

What does this mean for businesses?

Energy and fuel prices are costs that most businesses have limited control over, but that doesn’t mean you should simply absorb increases and hope they come back down.

If your costs have changed significantly, it’s worth revisiting your pricing, budgets and cashflow forecasts. Are your margins still where you expect them to be? Do your forecasts reflect what you’re actually paying now, rather than what you were paying six or twelve months ago?

For businesses with particularly high energy or fuel usage, even relatively small changes can have a sizeable impact over a year.

Volatility may be something businesses have become accustomed to in recent years, but that doesn’t make it sensible to treat every increase as temporary. Keeping your figures up to date gives you a much better chance of responding early rather than discovering the impact several months down the line.

It is worth noting that the ONS describes these figures as “official statistics in development”, and the survey response rate was under 26%.

Even with that caveat, the level of concern being reported is a useful reminder that businesses need to keep a close eye on their costs – and understand what those costs are doing to profitability and cashflow.

Talk to us about managing rising costs.