Annual Average Domestic Crude Oil  Prices

1946-Present

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