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