Brazilian liquid fuel demand will keep growing in 2024. EPE forecasts an increment of 2.2%, or 3.3 billion liters, for 2024, and 2.5%, or 3.9 billion liters, for 2025, after three consecutive years growing more than 4% per year, which represents an average annual increase of 6.4 billion liters.
Economic growth, smaller El Niño effects over climate, 2024/25 harvest normalization, income transfer policies and government programs, with emphasis on the New Growth Acceleration Program (Novo PAC), should contribute to growth along both 2024 and 2025.
Otto cycle fuels consumption is still at elevated levels, with hydrous ethanol raising its market share, due to a more favorable price when compared to regular gasoline.
In the aviation sector, for the first time since the start of Covid-19 pandemic, Brazil's jet fuel demand increased compared to the same month in 2019. The growth on April 2024 was 0.1% compared to April 2019 and 9.1% compared to April 2023.
LPG consumption continues to grow, partly encouraged by lower prices compared to the previous year.
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