In 2023, the consumption of gas oil and diesel oil (excluding biofuel) in the UK’s industry was approximately 1.2 million tonnes of oil equivalent. The forecasted trend from 2024 to 2028 indicates a consistent decline in consumption, reducing from 1.15 million tonnes in 2024 to 0.92988 million tonnes in 2028. This represents a year-over-year decrease of about 4.35% between 2024 and 2025, 5.45% from 2025 to 2026, 5.4% between 2026 and 2027, and around 5.5% from 2027 to 2028, illustrating a compounded annual growth rate (CAGR) of approximately -5% over this forecast period.
Key future trends include:
- Continued influence of legislation and policies encouraging the reduction of fossil fuel consumption in the industrial sector.
- Increased adoption of alternative energy sources like renewable electricity and hydrogen, contributing to a further decline in gas oil and diesel demand.
- The potential impact of economic factors and technological advancements on industrial energy efficiency and consumption patterns.
