The forecasted final consumption of fuel oil in the UK construction sector is set to increase gradually from 16.06 thousand tonnes of oil equivalent in 2024 to 17.08 in 2028. This represents an average growth rate, or CAGR, over the five years of approximately 1.23%. Given that these figures are higher than the actuals for 2023, this points to a recovering demand for fuel oil in the construction sector.
Future trends to watch for include the impact of transitioning towards more sustainable energy sources on fuel oil demand. Additionally, potential changes in construction activity and economic conditions could influence oil consumption levels.
