Transportation Fuel Markets

Type of fuelLow quality (bunker oil)High quality (jet fuel)Medium quality (diesel, gasoline)
Share of energy consumption2%6%90%
Market size (year)150 M metric tons190 M metric tons650 M metric tons
% of operating costs40%25%18-20%

Road transportation is the largest fuel market, accounting for 90% of all the fuel consumed by transportation. Even if the marine and aviation fuel markets are comparatively smaller, their importance in supporting global trade should not be underestimated. While there are many alternatives for road transportation over short distances (rail, public transit, cycling), there are very few, if any, for long-distance air and maritime transportation. Additionally, each transportation sector tends to use a specific fuel quality, which is linked to its performance and a level of dependency.