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Import/Export Price Indexes

Louisiana and Texas: Price Movements of Top Energy Exports and Other Highlights

March 2024

Photo of a cathedral in Louisiana

Louisiana and Texas accounted for $267.8 billion in energy export trade dollar value in 2023. U.S. energy exports declined 15.2 percent in trade dollar value from 2022 to 2023. Overall fuels and lubricants export prices advanced 2.8 percent in February. Despite the monthly rise, prices for fuels and lubricants decreased 4.4 percent over the past 12 months. Export prices for crude petroleum, fuel oil, and light oils and other petroleum products all increased in February.

Louisiana & Texas Energy Exports by Trade Dollar Value, 2023

  • With a combined value of $267.8 billion, energy exports from Louisiana and Texas represented 82.9 percent of U.S. energy exports in 2023, down from 83.2 percent in 2022.
  • The trade dollar value of crude petroleum—the largest energy export for Louisiana and Texas—dropped 1.5 percent from 2022 to 2023, accounting for 43.2 percent of 2023 energy exports from the region.
  • Louisiana and Texas exported $50.7 billion of fuel oil in 2023, accounting for 76.3 percent of total U.S. fuel oil exports by trade dollar value.

U.S. Export Price Indexes: Crude Petroleum

  • Export crude petroleum prices rose 4.1 percent in February.
  • The February increase in crude petroleum export prices was the largest since a 9.7-percent advance in September 2023.
  • The price index for crude petroleum advanced 5.2 percent from February 2023 to February 2024.

U.S. Export Price Indexes: Fuel Oil

  • Export fuel oil prices advanced 7.1 percent in February.
  • Despite the increase in February, fuel oil export prices declined 4.3 percent over the past 12 months.
  • The export price index for fuel oil has not increased on a 12-month basis since a 23.6-percent rise over the period ended January 2023.

U.S. Export Price Indexes: Light Oils and Other Petroleum Products

  • Export prices for light oils and other petroleum products advanced 2.4 percent in February.
  • The increase in February was the largest advance since export light oils and other petroleum products prices rose 9.6 percent in August 2023.
  • Despite the monthly rise, prices for export light oils and other petroleum products declined 13.6 percent over the past year.

Top Six States Exporting Energy by Trade Dollar Value, 2023

  • Texas was the largest energy exporting state in 2023, accounting for 65.0 percent of U.S. energy exports by trade dollar value. Louisiana ranked second, exporting 17.9 percent of the U.S. total trade dollar value.
  • The dollar value of 2023 energy exports from Louisiana was more than three times the value then the next three states combined.
  • California and Pennsylvania—the third and fourth largest exporting states—accounted for 2.2 and 1.7 percent, respectively, of total U.S. energy exports in 2023.

 

Southwest Information Office • BLSInfoDallas@bls.gov • https://www.bls.gov/regions/southwest/ • 972-850-4800 

 

Last Modified Date: March 22, 2024