Oil Price History and Analysis- Price Movement History

Annual Average Domestic Crude Oil Prices
1946-Jan 2009
U.S. Average
(in $/bbl.)
Year Nominal Inflation Adjusted
1946 $1.63 $17.76
1947 $2.16 $20.58
1948 $2.77 $24.72
1949 $2.77 $24.99
1950 $2.77 $24.42
1951 $2.77 $22.63
1952 $2.77 $22.20
1953 $2.92 $23.23
1954 $2.99 $23.61
1955 $2.93 $23.22
1956 $2.94 $22.96
1957 $3.14 $23.74
1958 $3.00 $22.05
1959 $3.00 $21.90
1960 $2.91 $20.88
1961 $2.85 $20.25
1962 $2.85 $20.05
1963 $2.91 $20.20
1964 $3.00 $20.56
1965 $3.01 $20.30
1966 $3.10 $20.32
1967 $3.12 $19.84
1968 $3.18 $19.41
1969 $3.32 $19.22
1970 $3.39 $18.56
1971 $3.60 $18.88
1972 $3.60 $18.29
1973 $4.75 $22.73
1974 $9.35 $40.29
1975 $12.21 $48.21
1976 $13.10 $48.91
1977 $14.40 $50.48
1978 $14.95 $48.71
1979 $25.10 $73.44
1980 $37.42 $97.47
1981 $35.75 $83.54
1982 $31.83 $70.07
1983 $29.08 $62.02
1984 $28.75 $58.78
1985 $26.92 $53.15
1986 $14.44 $27.99
1987 $17.75 $33.19
1988 $14.87 $26.70
1989 $18.33 $31.40
1990 $23.19 $37.69
1991 $20.20 $31.51
1992 $19.25 $29.15
1993 $16.75 $24.62
1994 $15.66 $22.45
1995 $16.75 $23.35
1996 $20.46 $27.71
1997 $18.64 $24.67
1998 $11.91 $15.52
1999 $16.56 $21.12
2000 $27.39 $33.79
2001 $23.00 $27.59
2002 $22.81 $26.94
2003 $27.69 $31.97
2004 $37.66 $42.35
2005 $50.04 $54.01
2006 $58.30 $61.37
2007 $64.20 $64.93
2008 (Jun) $126.33 $123.88
2008 (Ave) $99.65 $99.65