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U.S. imports of petroleum merchandise decreased by 210,000 barrels per day (b/d) in 2024 to common 1.8 million b/d. Imports of all main transportation fuels, akin to motor gasoline, diesel, and jet gas, in addition to different merchandise, akin to unfinished oils, decreased.
Motor gasoline makes up the biggest share of U.S. petroleum product imports as a result of it’s the most widely consumed petroleum fuel in the US. In 2024, the US imported 651,000 b/d of motor gasoline, about 36% of all petroleum product imports and 75,000 b/d lower than in 2023. U.S. gasoline consumption in 2024 was largely unchanged from 2023; inventories fell in 2024 after that they had elevated in 2023, reflecting the lower in imports.
Though the US imports extra gasoline than every other petroleum product, the US exported 226,000 b/d extra gasoline than it imported in 2024. The USA has been a web exporter of gasoline yearly since 2016.
U.S. petroleum product exports primarily originate from the Gulf Coast because of the area’s concentrated refining capability and proximity to main ports. U.S. Gulf Coast refinery manufacturing exceeds regional market demand, leading to exports by waterborne tankers. Though Gulf Coast refineries have a wide distribution networkinfrastructure constraints restrict their capability to produce fuels to all components of the nation. Consequently, sure areas depend on imported petroleum merchandise as an alternative of transporting them from the Gulf Coast.
U.S. gasoline imports got here from quite a lot of international locations, however the largest 5 suppliers have been Canada, the Netherlands, India, the UK, and South Korea. All these international locations besides Korea are among the many prime 5 sources for U.S. gasoline imports over the past 10 years (2014–23). Imports from Canada are the first supply of gasoline for a number of northeastern states and make up a small share in different markets all through the nation.
Canada can also be the biggest supply of distillate imports into the US. The USA imported 144,000 b/d of distillate gas oil in 2024, 95% of which got here from Canada. U.S. imports of distillate primarily come into the East Coast (112,000 b/d, or 78%). Along with use as a transportation gas, distillate imports are additionally the first supply of dwelling heating oil for the U.S. Northeast.
Jet gas imports in 2024 totaled 109,000 b/d, down from 127,000 b/d in 2023. Jet gas imports flowed primarily to the West Coast. South Korea equipped 77,000 b/d, or 71%, of U.S. jet gas imports final 12 months. The subsequent-largest suppliers have been Canada, China, India, and Kuwait.
Imports of petroleum merchandise apart from gasoline, distillate gas oil, and jet gas primarily consisted of residual gas oil to be used as a marine bunker gas and unfinished oils used as feedstock for U.S. refineries to provide different completed merchandise.
First revealed on Today in Energy. Principal contributor: Kevin Hack
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