Commodity Market Report
Norway retail fuels long-term outlook
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Total oil demand in Norway has been declining since it peaked over a decade ago. Norway’s retail fuels market is highly concentrated, with four companies – Circle K, DCC, St1, and Uno-X – supplying almost 90% of the market. This leads to limited retail fuel price competition supporting healthy gross margins. Vehicle fleet electrification is in rapid pace, EVs represented more than 30% of the total car fleet in 2023.
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