Gasoline sales in Canada saw a fluctuating trend over the past decade. From 41.45 billion liters in 2013, sales grew to 44.184 billion liters in 2023. Significant declines were observed during the pandemic in 2020, with a sharp drop of -14.86%. However, sales rebounded by 2022 and continued to grow steadily through 2023 with a year-on-year increase of 3.71%. The overall CAGR for the last five years stands at 0.3% per annum. Forecast data suggests continued growth, reaching 45.519 billion liters by 2028, translating to a future 5-year CAGR of 0.47%.
Future trends to watch for:
- Potential shifts to electric vehicles could impact gasoline demand.
- Government regulations on emissions could play a significant role.
- Emerging technologies and alternative fuels could disrupt traditional gasoline reliance.