Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com, More Info By Michael Kern – Aug 04, 2023, 1:30 PM CDT Petroleum items represented the biggest share, 57%, of the quantity U.S. customers invested in energy in 2021, as total energy costs leapt by inflation-adjusted 25% from 2020, due to greater intake and rates, the Energy Information Administration (EIA) stated today. In 2021, the quantity U.S. customers invested in energy grew to over $1.3 trillion when changed for inflation, according to EIA’s SEDS. Petroleum items consisting of motor fuel, diesel, and jet fuel represented $757 billion of end-use energy expenses in 2021, a 44% rise from 2020, due to greater intake after the 2020 Covid lockdowns and to greater petroleum and petroleum item rates. Investing in electrical power by U.S. customers represented $419 billion of end-use energy expenses in 2021, up by 3% compared to 2020. Gas utilized for functions aside from creating electrical power, such as heating and cooling houses and structures, represented around 10%, or an overall of $133 billion, of the country’s overall energy expenses, according to EIA’s price quotes. Inflation-adjusted per capita U.S. energy expenditures leapt by 25% in 2021 from 2020 to $3,967, on par with 2019 per capita expenses. Inflation-adjusted per capita expenses increased in every U.S. state in 2021. Per capita expenses in Connecticut increased the least, by 13%, while they leapt by the most in Louisiana, up by 43% in 2021 compared to 2020, according to the EIA. Years 2022 and 2023 will see boosts in energy expenses due to the greater energy costs and high fuel rates for the majority of 2022. This summer season, gas rates are likewise increasing, amidst heatwave-related interruptions at some domestic refineries. By Michael Kern for Oilprice.com More Top Reads From Oilprice.com: Norway Makes Biggest Hydrocarbon Discovery In 10 YearsCommerzbank Lowers Brent Oil Price Outlook To $85 At Year-EndIraq Inks Long-Awaited $27 Billion Energy Deal With TotalEnergies Join the conversation|Back to homepage Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com, More Info Related posts Leave a remark
Oil Products Accounted For 57% Of 2021 U.S. Energy Expenditure
