Evolution in the Price of Oil °

(1975 - 2011)

Oil-Revenue of Arab OPEC Members | Middle East Oil Resources

Oil: Table of Contents

Year

Nominal Price (USD) *

Inflation Adjusted to 2011(USD)
1975
$12.21
$51.00
1976
$13.10
$51.78
1977
$14.40
$53.41
1978
$14.95
$51.58
1979
$25.10
$77.05
1980
$37.42
$102.26
1981
$35.75
$88.55
1982
$31.83
$74.24
1983
$29.08
$65.69
1984
$28.75
$62.26
1985
$26.92
$56.28
1986
$14.44
$29.62
1987
$17.75
$35.13
1988
$14.87
$28.32
1989
$18.33
$33.24
1990
$23.19
$39.80
1991
$20.20
$33.36
1992
$19.25
$30.85
1993
$16.75
$24.73
1994
$15.66
$23.76
1995
$16.75
$24.73
1996
$20.46
$29.32
1997
$18.64
$26.12
1998
$11.91
$16.44
1999
$16.56
$22.30
2000
$27.39
$35.76
2001
$23.00
$29.23
2002
$22.81
$28.50
2003
$27.69
$33.86
2004
$37.66
$44.81
2005
$50.04
$57.57
2006
$58.30
$65.03
2007
$64.20
$69.51
2008
$91.48
$95.25
2009
$53.48
$55.96
2010
$71.21
$73.44
2011 ^
$86.84

° - The table shows the Annual Average Crude Oil Price from 1975 to the present. Prices are adjusted for Inflation to April 2011 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.

Red/Blue - Inflation adjusted and nominal prices reached an all-time low in 1998 and hit an all-time high (outside of 1980) just a decade later in 2008.

* - Price is per barrel.

^ - Partial yearly average through April 2011.