The passage of the Tax Cut and Jobs Act will support U.S. transport fuel consumption this year and prevent any deceleration in demand growth. In 2018, ESAI Energy expects total U.S. consumption of transport fuels to rise by 160,000 b/d to over 15.4 million b/d after growing by 150,000 b/d last year. The effect of the tax cut will be particularly pronounced for gasoline but also provide a boost for diesel, jet fuel and bunker fuel. Rising U.S. gasoline consumption will help to sustain global demand growth at over 400,000 b/d. Meanwhile, global diesel demand is expected to rise by a similar amount in 2018, outpacing supply gains, and providing modest support for spreads.