United Kingdom Fuel Oil Market Report and Forecast 2025-2034

United Kingdom Fuel Oil Market Outlook

The United Kingdom fuel oil market size is estimated to be valued at USD 217.60 million in 2024.

Key Takeaways:

• The United Kingdom's oil supply in 2022 amounted to 2,246,947 TJ, representing 34.9% of the overall energy supply, per IEA.

• By 2022, 808 million litres of bioethanol captured 32% of the UK's renewable fuel market, as per Fuels Industry UK.

• According to IEA, domestic crude oil production in the United Kingdom in 2022 amounted to 1,642,787 TJ.

Heavy fuel oil enhances the United Kingdom fuel oil market growth as it tends to be less expensive to produce and purchase

Its significant energy density can be beneficial for various applications requiring substantial energy. Heavy oil is valued for its cost-effectiveness, it is cheaper to produce in purchase and its high energy density makes it efficient for applications in power plants and marine diesel engines. It boasts longer storage lives and can be stable for longer periods without getting degraded. Fuel refiners are teaming up with big companies to store and deliver fuels to different locations.

In July 2023, Essar Oil (UK), a significant fuel refiner, teamed up with Oikos Storage to expand its operations in southern England. This collaboration permitted Essar to store and deliver fuel at Oikos's Canvey Island site, catering to the Thames region. Furthermore, Oikos's access to the UKOP pipeline allowed for fuel distribution to the Midlands and Northampton areas. This arrangement bolstered Essar's supply network and market position.

Light oils are known for their cleaner burning properties such as diesel, petrol, and gasoline. They are versatile and can be used across various applications, from vehicles to generators to aviation. They have a lower viscosity and weight which increases the ease of transportation, making them efficient for backup power plants and equipment.

Market Segmentation

United Kingdom Fuel Oil Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Heavy Fuel Oil

• Light Fuel Oil

Market Breakup by Application

• Road and Domestic Waterway

• Marine Bunkers

• Petrochemicals

• Residential/Commercial/Agricultural

• Electricity Generation

• Others

Market Breakup by Region

• England

• Wales

• Scotland

• Northern Ireland

The United Kingdom fuel oil market key players are Exxon Mobil Corporation, Shell Plc, Chevron Corp., BP Plc, TotalEnergies SE, Eni S.p.A and Valero Energy Corporation among others.

Key Highlights of the Report