Forecasts for motor gasoline refinery output in Spain indicate that the value stood at 9.61 million tonnes of oil equivalent in 2023. Reviewing the historical variations, we see a significant drop in 2020 by 13.92%, reflecting the impact of COVID-19. Recovery was observed in 2021 with a 23.6% increase, yet the trend softened in 2022 with an 8.63% decline. In 2023, a modest growth of 2.86% was recorded.
The compound annual growth rate (CAGR) over the last five years shows slight trends towards stabilization with minimal fluctuation standing at -0.27%. The forecast for the coming years (2024-2028) suggests a stable output at 9.61 million tonnes, with a minimal forecasted negative CAGR of -0.01%.
Future trends to watch for include potential regulatory changes aimed at reducing reliance on fossil fuels and increasing the biofuel share, which may alter refinery outputs. Additionally, technological advancements and shifts in consumer behaviors, especially regarding electric vehicles, could further impact demand and production.
