Dollars Spent on Imported Petroleum
May 5, 2014
Over the last three decades, the amount of money the U.S. spent on imported petroleum varied widely. In 1988 and 1998, about $200 million per day was spent on imported petroleum, but in 2008 it was more than $1,300 million per day. In 2009 lower demand and a collapse in oil prices caused the expenditures to fall to about $750 million per day. Since that time the spending has been closer to $1,000 million per day or more.
Petroleum Import Costs
Note
Expenditures were adjusted to 2013 constant dollars using the Consumer Price Index.
Source
U.S. Energy Information Administration, Monthly Energy Review, January 2014, Table 1.5.