In 2024, U.S. retail gasoline prices averaged about 20 cents less than in 2023
The U.S. retail price for regular grade gasoline averaged $3.30 per gallon (gal) in 2024, $0.21/gal less than in 2023. Lower crude oil prices and narrower refinery margins in 2024 than in 2023 both contributed to the decrease in U.S. retail gasoline prices, according to data from our Gasoline and Diesel Fuel Update. From the […]
Second-quarter U.S. gasoline consumption has been less than during 2021
Based on weekly estimates in our Weekly Petroleum Status Report (WPSR), less gasoline has been consumed in the United States during the second quarter of 2022 and early July than during the same period in 2021. Our latest Petroleum Supply Monthly (PSM) confirms the trend, which shows that U.S. gasoline consumption (measured as product supplied) […]
EIA updated geologic maps of the hydrocarbon-rich Midland Basin Spraberry formation
We have updated our maps and geologic information for the Spraberry formation in the Midland Basin, which continues to be one of the most prolific areas for hydrocarbon production in the United States. The formation spans 16 counties in western Texas, which is the eastern part of the larger Permian Basin. In April 2022, daily […]
U.S. monthly average Henry Hub spot price nearly doubled in 12 months
During the past 12 months (July 2021–June 2022), the monthly average Henry Hub natural gas spot price, which is a U.S. benchmark, nearly doubled, according to data from Refinitiv Eikon. The price rose from $3.84 per million British thermal units (MMBtu) in July 2021 to $7.70/MMBtu in June 2022. The average inflation-adjusted (real) monthly Henry […]
Renewable identification number prices for ethanol and biomass-based diesel remain high
The prices of renewable identification number (RIN) credits—a compliance mechanism used for the Renewable Fuel Standard (RFS) program administered by the U.S. Environmental Protection Agency (EPA)—have remained high in 2022. So far this year, RINs generated by biomass-based diesel (biodiesel and renewable diesel) production, known as D4 RINs, peaked on April 28 at $1.91 per […]
Over one-quarter of U.S. households use electricity as the only source of energy
In 2020, 26% of U.S. households used electricity as the only source of energy (32.25 million out of 123.53 million homes), according to our 2020 Residential Energy Consumption Survey (RECS). Most U.S. homes use electricity and at least one other fuel, such as natural gas, fuel oil, propane, or wood.
Global trade in liquefied natural gas grew by 4.5% in 2021
An average of 49.0 billion cubic feet per day (Bcf/d) of liquefied natural gas (LNG) was traded globally during 2021, an increase of 2.2 Bcf/d (4.5%) from 2020, according to The LNG Industry GIIGNL Annual Report 2022 by the International Group of Liquefied Natural Gas Importers (GIIGNL). New LNG export capacity, primarily in the United […]
Fossil fuel sources accounted for 79% of U.S. consumption of primary energy in 2021
Fossil fuels—petroleum, natural gas, and coal—accounted for 79% of the 97 quadrillion British thermal units (quads) of primary energy consumption in the United States during 2021. About 21% of U.S. primary energy consumption in 2021 came from fuel sources other than fossil fuels, such as renewables and nuclear, according to data in our Monthly Energy […]
Developers plan to add 6 gigawatts of U.S. offshore wind capacity through 2029
Power plant developers and operators have reported plans to install more than 6 gigawatts (GW) of offshore wind capacity at sites mostly along the U.S. eastern seaboard over the next seven years, according to our latest Preliminary Monthly Electric Generator Inventory report. These additions include projects off the coasts of New Jersey, Maryland, and Virginia, […]
U.S. refinery capacity decreased during 2021 for second consecutive year
Operable atmospheric crude oil distillation capacity, our primary measure of refinery capacity in the United States, totaled 17.9 million barrels per calendar day as of January 1, 2022, down 1% from the beginning of 2021. According to our annual Refinery Capacity Report, 2021 was the second consecutive year of decreasing refinery capacity.