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 | $36.34 | $39.02 |
| 2017 | $46.27 | $43.97 |
| 2018 | $59.34 | $57.77 |
| 2019 | $50.46 | $50.01 |
° - 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.
Source: Inflation Data
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