Petroleum and coal products
Industry profile, February 2020
Sections: Description | Pricing | Costs | Demand | Appendix
This page is an industry profile for the Petroleum and coal products industry. It provides a general economic overview of recent developments in the industry. This includes information on industry pricing, costs, and demand. Below you will find a description of what type of business establishments are included in this industry. For information on how to best utilize this industry profile please visit our Business Solutions.
Industry Description
The Petroleum and Coal Products Manufacturing subsector is based on the transformation of crude petroleum and coal into usable products. The dominant process is petroleum refining that involves the separation of crude petroleum into component products through such techniques as cracking and distillation.
This industry description was sourced from the North American Industry Classification System.
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- As of January 2020, prices in this industry had decreased 1.3 percent since the previous quarter.
- From January 2019 to January 2020 prices in this industry decreased 12.5 percent.
- Prices increased 21.8 percent in the five year period starting in January 2015 and ending in January 2020.
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- As of January 2020, costs in this industry had 0 percent since the previous quarter.
- From January 2019 to January 2020 costs in this industry decreased 8.3 percent.
- Costs increased 40.6 percent in the five year period starting in January 2015 and ending in January 2020.
For details on which industries are included in each sector, click here
- The largest cost for this industry is purchases made to the Mining, Quarrying, and Oil and Gas Extraction sector. This sector accounts for 70.2% of the industry's overall costs.
- From January 2019 to January 2020, the largest change in costs for this industry were costs associated with purchases to the Labor sector. Costs associated with this sector decreased -11.6%.
| Sector Name | Percentage of Costs | Annual Percent Change 4 |
|---|---|---|
| Mining, Quarrying, and Oil and Gas Extraction | 70.2% | -11.3% |
| Manufacturing | 11.7% | +5.1% |
| Labor | 4.8% | -11.6% |
| Construction | 2.5% | +6.2% |
| Management of Companies and Enterprises | 2.4% | -1.9% |
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- As of July 2019, demand for this industry had increased 1.7 percent since the previous quarter.
- From July 2018 to January 2020 costs in this industry increased 10.1 percent.
- Costs increased 14.8 percent in the five year period starting in July 2014 and ending in July 2019.
For details on which industries are included in each sector, click here
- The sector that contributes the most to this industry's demand is the Personal consumption sector. This sector accounts for 32.3% of the industry's overall demand.
- From January 2019 to January 2020, the largest change in demand for this industry was from the Exports sector, where demand increased 52.3%.
| Sector Name | Percentage of Demand | Annual Percent Change 6 |
|---|---|---|
| Personal consumption | 32.3% | +4.2% |
| Public Administration | 17.1% | +5.6% |
| Exports | 16.6% | +52.3% |
| Transportation and Warehousing | 8.7% | +1.7% |
| Construction | 6.3% | +4.6% |
- Pricing measured from January 2020.
- The BLS PPI used for this industry is PCU324---324---.
- Costs measured from January 2020
- Demand measured from July 2019
