Crude oil price history since 1950
Seventy-five years of crude oil prices, nominal and adjusted for inflation.
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What the data shows
- Oil price: $2.57 in 1950, $65.46 in 2025 (25× higher). It peaked at $99.57 in 2008.
- In 2025 dollars: $34.39 in 1950, $65.46 in 2025 (1.9× higher). It peaked at $148.93 in 2008.
About this chart
Oil was cheap and stable until the 1973 embargo and the 1979 Iranian revolution sent prices soaring. The 2008 spike and crash, the 2014 glut and the 2020 pandemic collapse all show up clearly.
Adjusted for inflation, oil today is often cheaper than it was in 1980 or 2008.
The data
Source: FRED (WTISPLC), yearly average spot price of West Texas Intermediate crude, US$ per barrel; inflation-adjusted with US CPI-U to 2025 dollars. Retrieved November 3, 2026.
| Date | Oil price | In 2025 dollars |
|---|---|---|
| 1950 | $2.57 | $34.39 |
| 1951 | $2.57 | $31.86 |
| 1952 | $2.57 | $31.15 |
| 1953 | $2.72 | $32.67 |
| 1954 | $2.82 | $33.80 |
| 1955 | $2.82 | $33.88 |
| 1956 | $2.82 | $33.39 |
| 1957 | $3.04 | $34.85 |
| 1958 | $3.06 | $34.09 |
| 1959 | $2.98 | $32.86 |
| 1960 | $2.97 | $32.32 |
| 1961 | $2.97 | $31.98 |
| 1962 | $2.97 | $31.61 |
| 1963 | $2.97 | $31.22 |
| 1964 | $2.95 | $30.55 |
| 1965 | $2.92 | $29.82 |
| 1966 | $2.94 | $29.12 |
| 1967 | $3.03 | $29.20 |
| 1968 | $3.07 | $28.41 |
| 1969 | $3.29 | $28.92 |
| 1970 | $3.35 | $27.78 |
| 1971 | $3.56 | $28.31 |
| 1972 | $3.56 | $27.42 |
| 1973 | $3.87 | $28.07 |
| 1974 | $10.37 | $67.72 |
| 1975 | $11.16 | $66.76 |
| 1976 | $12.65 | $71.51 |
| 1977 | $14.30 | $75.93 |
| 1978 | $14.85 | $73.28 |
| 1979 | $22.40 | $99.38 |
| 1980 | $37.38 | $146.07 |
| 1981 | $36.67 | $129.82 |
| 1982 | $33.64 | $112.18 |
| 1983 | $30.39 | $98.27 |
| 1984 | $29.28 | $90.69 |
| 1985 | $27.97 | $83.70 |
| 1986 | $15.04 | $44.14 |
| 1987 | $19.16 | $54.30 |
| 1988 | $15.96 | $43.44 |
| 1989 | $19.59 | $50.89 |
| 1990 | $24.49 | $60.35 |
| 1991 | $21.48 | $50.79 |
| 1992 | $20.56 | $47.18 |
| 1993 | $18.46 | $41.13 |
| 1994 | $17.19 | $37.33 |
| 1995 | $18.43 | $38.93 |
| 1996 | $22.15 | $45.47 |
| 1997 | $20.60 | $41.32 |
| 1998 | $14.39 | $28.42 |
| 1999 | $19.25 | $37.21 |
| 2000 | $30.30 | $56.65 |
| 2001 | $25.92 | $47.14 |
| 2002 | $26.10 | $46.71 |
| 2003 | $31.14 | $54.49 |
| 2004 | $41.44 | $70.62 |
| 2005 | $56.47 | $93.10 |
| 2006 | $66.10 | $105.59 |
| 2007 | $72.36 | $112.36 |
| 2008 | $99.57 | $148.93 |
| 2009 | $61.69 | $92.57 |
| 2010 | $79.43 | $117.26 |
| 2011 | $95.08 | $136.10 |
| 2012 | $94.20 | $132.10 |
| 2013 | $97.94 | $135.36 |
| 2014 | $93.26 | $126.84 |
| 2015 | $48.69 | $66.14 |
| 2016 | $43.14 | $57.88 |
| 2017 | $50.88 | $66.84 |
| 2018 | $64.94 | $83.26 |
| 2019 | $56.98 | $71.76 |
| 2020 | $39.23 | $48.79 |
| 2021 | $67.99 | $80.78 |
| 2022 | $94.79 | $104.29 |
| 2023 | $77.64 | $82.03 |
| 2024 | $76.55 | $78.57 |
| 2025 | $65.46 | $65.46 |
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Frequently asked questions
Where does this data come from?
FRED (WTISPLC), yearly average spot price of West Texas Intermediate crude, US$ per barrel; inflation-adjusted with US CPI-U to 2025 dollars. Retrieved November 3, 2026. You can download the full table as a CSV from this page.
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