In 2023, China's gasoline consumption was roughly at 13.04 million metric tons. Forecasts indicate a steady decline from 2024 through 2028, starting at 12.97 and dropping to 12.71 million metric tons. The year-on-year percentage variations show minor decreases, around 0.5% annually. Over the five-year period, the compound annual growth rate (CAGR) reflects a gradual descent in consumption.
Future trends to watch for include:
- A shift towards electric vehicles and alternative energy sources could further suppress gasoline demand.
- Government policies on emissions and fuel efficiency standards may accelerate this decline.
- Potential economic or geopolitical factors could influence future consumption patterns and projections.
