Petroleum Expenditures by Sector

Expenditures on petroleum decreased to $6,837.0 million ($6.8 billion) in 2023, which was a 15.3–percent decrease from 2022 expenditures of $8,067.3 million ($8.1 billion).

The transportation sector spent over three–quarters (83 percent) of the total expenditures. The industrial sector spent 14 percent, the commercial sector spent 1.5 percent, and the residential sector spent 1.3 percent, while the electric power sector spent less than 1 percent (0.18%). (Figure 1)

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