The Cost of Goods Sold (COGS) for Petroleum and Petroleum Products Merchant Wholesalers in Canada in 2023 was CAD 345.9 billion. The forecast indicates a steady increase from CAD 365.16 billion in 2024 to CAD 447.46 billion in 2028. This represents a yearly growth of approximately 5-6% over the period. The compounded annual growth rate (CAGR) over these five years is estimated at 5.2%. This consistent upward trend suggests increased demand and potentially higher prices for petroleum products in the Canadian market.
Future trends to watch for include global oil price fluctuations due to geopolitical events, evolving regulatory policies on fossil fuels, and the impact of technological advancements in alternative energy sources which may affect future COGS for petroleum wholesalers.
