The forecast for the import of Mineral Fuels, Lubricants, and Related Materials in the Philippines from 2024 to 2028 shows a steady increase. The value in 2023 stood at an actual figure, providing a baseline for analysis. The value in 2024 is forecasted at 941.06 billion Philippine Pesos, rising to 1054.2 billion Philippine Pesos by 2028. This indicates a consistent year-on-year growth rate, with a noticeable upward trend over the entire period. The year-on-year variation from 2024 to 2028 ranges from 3.1% to 2.7%.
Future trends to watch for include the impacts of global oil prices, shifts in energy policy, and advancements in renewable energy. These factors could significantly influence both the volume and value of imports, as well as the overall growth trajectory of the sector.
