Petroleum Expenditures by Product

Expenditures on petroleum products decreased 15.3 percent to $6,837.0 million ($6.8 billion) in 2023 from expenditures of $8,067.3 million ($8.1 billion) in 2022. (See data tables.)

Motor gasoline expenditures and distillate fuel (diesel fuel and heating oil) expenditures comprised nearly all (91 percent) of the money spent on petroleum products in 2023. Lubricants expenditures were 2.30 percent, propane expenditures were 2.09 percent, asphalt and road oil expenditures were 1.89 percent, and jet fuel expenditures were 1.94 percent of the total. Expenditures on each of the other fuels were less than 1 percent of the total. (Figure 1)

The expenditures are in nominal dollars to provide a better comparison.