Total petroleum consumption of liquid fuels and other petroleum products averaged 20.7 million bbl/d in 2007, up only 10,000 bbl/d from 2006 (U.S. Petroleum Products Consumption Growth). Consumption of liquid fuels and other petroleum products is projected to grow by 40,000 bbl/d in 2008, a downward revision of 100,000 bbl/d from the previous Outlook.
After accounting for projected increases in ethanol use, U.S. petroleum consumption falls by 90,000 bbl/d. Based on the forecast of declining real GDP during the first half of this year as well as record high motor gasoline prices, gasoline consumption, having increased only 0.4 percent last year, is projected to increase only 0.3 percent this year and 0.7 percent in 2009. Distillate fuel consumption growth is projected to slow from 1.2 percent in 2007 to 0.7 percent this year before rising slightly to 1.0 percent in 2009.
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