The operating revenue for Petroleum and Petroleum Products Merchant Wholesalers in Canada witnessed significant fluctuations from 2013 to 2023. In 2023, the value stood at 356.8 billion Canadian Dollars, showing a 12.42% increase from 2022. Analyzing the last two years, there was a mixed trend with a slight decline of 3.56% in 2022, followed by a rebound in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was 4.57%, illustrating moderate growth amid market volatility. Future projections suggest continued positive growth, with an estimated CAGR of 4.09% from 2024 to 2028 and an overall growth rate of 22.18% over this period.
Future trends to monitor include:
- Global oil price fluctuations impacting revenue.
- Shifts towards renewable energy influencing market dynamics.
- Regulatory changes affecting the petroleum industry.
