From 2013 to 2023, diesel oil sales in Canada showed varied trends, starting at 17.893 billion liters in 2013 and decreasing to 16.045 billion liters by 2023. Sales peaked in 2014 with a year-on-year increase of 1.26%, followed by a general downward trend, particularly notable during 2016 (-5.42%) and 2020 (-9.05%). The last two years saw modest declines, with year-on-year variations of -0.38% in both 2022 and 2023. The average CAGR from 2019 to 2023 was -2.55%, indicating a steady decrease in sales volume.
Future forecasts from 2024 to 2028 predict a continuation of this decline at an average CAGR of -0.3%, with total sales expected to reach 15.747 billion liters by 2028. Given this trend, there is a projected overall decrease of 1.48% in diesel oil sales over the next five years.
Future trends to watch for include shifts towards renewable energy sources, the impact of stringent environmental regulations, and advancements in fuel-efficient technologies, which could further dampen diesel consumption. Additionally, any significant changes in the economic landscape or transportation policies could alter this forecast trajectory.
