Commodity Market Report
Sweden retail fuels long-term outlook
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Report summary
Sweden's retail fuel market has become highly concentrated, where the top three distributors - Circle K, OKQ8 and St1 - control more than 70% of the market. Sweden is traditionally one of the most prominent biofuel markets compared to the overall road fuel demand, mainly supported by its strict environmental policies. However, the government has slashed biofuel blending requirements for an interim period between 2024 and 2026 to shield consumers from high pump prices. Similarly to other European markets, electrification of the car parc has been getting pace over the last years. We anticipate EVs to become dominant around the middle of the next decade due to strong governmental support.
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