Fuel Prices in The United States
U.S. petroleum consumption reached an estimated 18.87 million barrels per day in 2011, and is expected to increase to 18.96 million barrels per day in 2012. U.S. gasoline demand decreased to an average of 8.75 million barrels per day in 2011 (approximately 368 million gallons per day), or about 41 million fill-ups per day (based on a 9-gallon fill-up). Demand for 2012 is projected to continue to decline to 8.74 million barrels per day. Drivers in the United States traveled 8.105 billion miles per day in 2011, and are expected to travel 8.158 billion miles per day in 2012. This equates to an average of 33 miles per vehicle per day. On average, U.S. drivers consume 1.49 gallons of gasoline per day, or about 10.44 gallons per week.
In 2008, a report by Cambridge Energy Research Associates stated that 2007 had been the year of peak gasoline usage in the United States, and that record energy prices would cause an "enduring shift" in energy consumption practices. According to the report, in April fuel consumption had been lower than a year before for the sixth straight month, suggesting 2008 would be the first year US usage declined in 17 years. The total annual distance driven in the US began declining in 2006.
The average price in 2012 (as of December 31, 2012) was $3.618, the highest ever for a year. As of December 31, 2012, the average price of gasoline was $3.298, with New York at $3.70 for the highest in the U.S., and Colorado at $2.987 for the lowest.
Finished motor gasoline amounts to 44% of the total US consumption of petroleum products. This corresponds to 18.5 Exajoules per year. As of 2012 the cost of crude oil accounted for 62% of the cost of a gallon of gasoline in the United State while refining accounted for just 12%. Taxes and distribution/marketing accounted for 12% and 14% respectively.
Read more about this topic: Gasoline And Diesel Usage And Pricing
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