The forecast for the UK’s Fuel Oil Gross Available Energy from 2024 to 2028 indicates significant growth after initial declines. In 2023, the actual value was higher than the forecasts for the subsequent years. A pronounced decline is observed from 2023 to 2024, continuing into 2025 and 2026. However, a substantial recovery begins in 2027, culminating in robust growth by 2028. The five-year compound annual growth rate (CAGR) also underlines this trend, reflecting a gradual shift from negative to positive values over the period.

Future trends to watch for:

Potential policy changes focusing on renewable energy sources could continue to impact fuel oil demand.
Technological advancements in energy efficiency may reduce reliance on fuel oil.
Monitoring global oil market trends as they could influence local energy strategies.