The tax expenditure on all fossil fuels for transportation in the UK is forecasted to modestly increase from 20.36 million in 2024 to 20.56 million in 2028, expressed in 2020 constant US dollars. Compared to 2023, baseline data is not provided, but modest growth is indicated between forecasted years. This yields a year-on-year growth close to a quarter of a percent, with the last five years showing a stable CAGR of around 0.2%.
Future trends to watch for include potential shifts in regulatory measures, a drive towards more sustainable transport solutions, and technological advancements in alternative energy vehicles, which could impact future fossil fuel taxation and consumption.
