The forecast for gas oil and diesel oil (excluding biofuel) consumption in the UK shows a gradual upward trend from 2024 to 2028, increasing from 30.6 to 31.42 million tonnes of oil equivalent. In 2023, the actual availability stood at 30.4 million tonnes. The year-on-year growth is consistent, displaying a steady increase of approximately 0.68% per year. The compound annual growth rate (CAGR) over this five-year forecast period is also anticipated to reflect this consistent upward trend.
Future trends to watch for include:
- The impact of environmental policies aimed at reducing fossil fuel consumption.
- Technological advancements in energy efficiency for transportation and industry.
- Potential shifts in consumer behavior towards renewable energy sources.
- Macroeconomic factors affecting industrial demand and transportation logistics.
