Based on forecasted data for petroleum consumption in households in China, the consumption from 2024 to 2028 shows a consistent decline. The values (expressed in ten million metric tons) start at 6.94 in 2024 and decrease each year, reaching 6.70 in 2028. Comparatively, petroleum consumption in 2023 stood at 7.00 ten million metric tons.
The year-on-year variations indicate a gradual decrease in consumption, with a decline of approximately 0.86% from 2024 to 2025 and a similar rate for the subsequent years until 2028. Over the last two years, the average annual reduction is projected to be close to 0.86%. The five-year CAGR from 2024 to 2028 shows a consistent average annual decline of 0.86%.
Future trends to watch for include potential shifts towards renewable energy sources as China continues to implement sustainability initiatives. Advances in energy-efficient technologies and government policies aiming to reduce carbon emissions may further influence the downward trend in petrol consumption in households.
