Gasoline and diesel market in the U.S. - statistics & facts

The gasoline market and its role in overall petroleum demand

In the U.S., gasoline typically refers to the fuel used in internal combustion engines, including methanol and ethanol. In 2020, approximately 264 million barrels of finished motor gasoline were exported out of the U.S., while total petroleum imports into the U.S. amounted to a daily average of about 7.8 million barrels that same year. The U.S. transportation sector accounted for 68.1 percent of the country’s total petroleum demand in 2020 and as such also makes up the vast majority of domestic demand for refined petroleum products. As of 2019, the overall U.S. domestic demand for gasoline was over 146 billion gallons.

Diesel use and prices

Diesel retains a fairly small portion of the U.S. motor fuel market, with gasoline-powered passenger cars the more popular choice with drivers. Diesel is mainly consumed by commercial vehicles. The average retail price for diesel fuel stood at 2.55 U.S. dollars per gallon in 2020. Diesel prices were usually higher than gasoline prices and a breakdown of diesel prices by expense shows that crude oil tends to be the most dominant cost component.

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