Fuel oil imports to the UK are projected to decrease steadily from 2024 to 2028, demonstrating a consistent annual decline. In 2023, these imports were noted at approximately 27.9 thousand terajoules. The forecast shows a decline of 4.5% from 2024 to 2025, 4.6% from 2025 to 2026, 4.8% from 2026 to 2027, and 4.8% from 2027 to 2028. The compound annual growth rate (CAGR) for the forecast period from 2024 to 2028 is about -4.7%, indicating a persistent downtrend.
Future trends to watch for:
- Impact of UK energy policies on import levels.
- Technological advancements in energy efficiency and alternative fuel sources.
- Volatility in global fuel markets affecting price and supply chain decisions.
