The forecast for the UK's crude oil gross inland consumption indicates a steady decline from 2024 through 2028. Starting at 543.95 thousand Gigawatthours in 2024, it is projected to decrease annually, reaching 484.74 thousand Gigawatthours by 2028. This reflects a year-on-year decrease of about 2.8% from 2024 to 2025, and a similar trend of diminishing rates continues each subsequent year.
- Year-on-year decreases indicate a consistent decline in consumption.
- Cumulatively, over five years, the average annual decrease, or CAGR, is approximately 2.85%.
Future trends to watch include advancements in renewable energy technologies, government policies promoting alternative energy sources, and economic factors impacting oil demand, all of which could further expedite this downward trend in crude oil consumption in the UK.
