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Oil: Evolution in the Price of Oil

(1975 - Present)

Year

Nominal Price *

Inflation Adjusted

1975 $12.21 $54.61
1976 $13.10 $55.46
1977 $14.40 $57.20
1978 $14.95 $55.24
1979 $25.10 $82.51
1980 $37.42 $109.51
1981 $35.75 $94.83
1982 $31.83 $79.50
1983 $29.08 $70.34
1984 $28.75 $66.67
1985 $26.92 $60.27
1986 $14.44 $31.72
1987 $17.75 $37.62
1988 $14.87 $30.33
1989 $18.33 $35.60
1990 $23.19 $42.62
1991 $20.20 $35.73
1992 $19.25 $33.04
1993 $16.75 $27.94
1994 $15.66 $25.44
1995 $16.75 $26.48
1996 $20.46 $31.40
1997 $18.64 $27.98
1998 $11.91 $17.60
1999 $16.56 $23.89
2000 $27.39 $38.29
2001 $23.00 $31.30
2002 $22.81 $30.52
2003 $27.69 $36.26
2004 $37.66 $47.98
2005 $50.04 $61.65
2006 $58.30 $69.64
2007 $64.20 $74.44
2008 $91.48 $102.00
2009 $53.48 $59.93
2010 $71.21 $78.65
2011 $87.04 $93.21
2012 $86.46 $90.72
2013 $91.17 $94.25
2014 $85.60 $87.05
2015 $41.85 $42.53
2016
(Partial)
$34.39 $34.13

° - Annual Average Crude Oil Price adjusted for inflation to modern prices using the Consumer Price Index (CPI-U) as presented by the Bureau of Labor Statistics.  Since these are annual averages they will not show the absolute peak price for any given year.
* - Price is per barrel.


Sources: Inflation Data