Crude oil spot price historical chart

WTI Crude Oil Spot Price

Your Place in Cyber Space for Inflation Data. October 06, by Tim McMahon Leave a Comment. This Chart presents Monthly Average Crude Oil Prices and Inflation Adjusted Oil Prices. For more information see Annual Average Oil Prices in Table Form. The red line on the chart shows oil prices adjusted for inflation in August dollars.

The black line indicates the nominal price in other words the price you would have actually paid at the time. Click for Larger Image.

After climbing sharply for a couple of years, it stayed relatively steady and in fact steadily declined in inflation adjusted terms until From there prices exploded until when the bubble burst and prices returned to "normal" however they were much more volatile from then on. Another interesting item to note is that the average price has been increasing. This may be the result of increased extraction costs as it becomes harder to find and requires much greater technology to get to it. From there we see one of the sharpest drops in history.

Note that the fall from the peak took until 7 years to fall as much percentage wise as it lost in only six months from What really matters is the average price the refineries had to pay for the whole month.

Interestingly, the highest monthly average price occurred in December while the highest annual high oil prices occurred in Which means prices spiked higher in late and then declined slightly but overall remained at higher levels throughout than they were in This number is constantly changing as we adjust for inflation at the current moment. So on an annual average basis, prices were very close to but slightly below but on a monthly inflation adjusted basis prices exceeded prices but for a shorter duration.

As we can see from the chart, inflation adjusted prices were higher in than they were in either or , but in the prices stair-stepped down rather than falling sharply as they did in Oil prices vary based on grade Sweet, Intermediate or Sour and location i.

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These price controls resulted in shortages and lines at the gas station in addition to some shootings and even deaths due to people "cutting in the gas line". For prices during this period, we use the free market stripper prices which more accurately indicate what prices would have been without the artificial price controls. Access your free oil report today and get a fresh perspective on crude oil. For more information see: Annual Crude Oil Prices in Table Form. See also our price comparison of Oil vs.

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Spot Prices for Crude Oil and Petroleum Products

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