Evolution in the Price of Oil
(1975 - Present)
| Year |
Nominal Price * |
Inflation Adjusted |
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 |
$57.92 |
2010 |
$71.21 |
$76.01 |
2011 |
$87.04 |
$90.08 |
2012 |
$86.46 |
$87.68 |
2013 |
$87.13 |
$87.52 |
2014 |
$89.08 |
$89.08 |
° - 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 |