Fuel Wholesaling in the UK - Industry Market Research Report

Slick performance: Spiking prices from the Russia-Ukraine conflict are boosting revenue

Players in this industry sell a range of fuel products and some by-products from the petroleum refining process. Industry revenue has been volatile over the past five years, as it's heavily determined by shifting crude oil prices. Plummeting demand during the COVID-19 outbreak led to historically low prices over 2020-21, causing a sharp dip in profit. OPEC+ manipulates oil prices through controlling the global supply of oil, adjusting production quotas, strategic communication, and collaboration with other major oil producers. Cuts to production by OPEC+ led to prices recovering to pre-pandemic levels in February 2021. Demand for oil has remained elevated throughout 2022-23. In addition, oil prices surged to a 14-year high in March 2022 amid supply chain disruptions following key oil exporter Russia's invasion of Ukraine, leading to petrol prices surpassing 180p per litre for the first time. As a result, industry revenue is expected to surge by 21.4% over the current year.

Firms in this industry sell a range of fuel products and some by-products from the petroleum refining process. The industry includes the wholesale of charcoal, coal, coke, fuel wood, naphtha, crude oil, diesel fuel, petrol, fuel oil, heating oil and kerosene. The industry also includes the wholesale of greases, oils and gases such as liquefied petroleum gas (LPG), butane and propane.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.