On 6-7 December 2023, SGS INSPIRE hosted two sessions of its end of the year webinar.
The SGS INSPIRE team provided a recap on transportation fuel market developments in 2023 and a taste of what to expect in 2024.
In a nutshell, in 2024, we expect to see stricter vehicle exhaust emission standards and improved fuel quality standards in Africa.
Gulf countries will implement Euro 4/IV and Euro 5/V standards, except Oman while Eurasian countries will be prioritizing the oil-refining sector rather than biofuels.
In the EU, there will be a focus on the finalization of the revised heavy-duty vehicles (HDVs) emission reduction standards and growing demand for biofuels in the aviation and marine sectors.
In North America, we will see subsidies for SAF under the IRA and approval for all year E15 sales.
In Latin America, we anticipate stronger focus on lower sulfur fuels and stricter vehicle exhaust emission standards as well as increasing biofuel supply and mandates.
For more information, you can check out our full report:
Conventional fuels, Conventional biofuels