Commodities · Energy · World Bank, monthly
Average crude oil price since 1960
The monthly World Bank price per barrel, in US dollars of each month. Switch to “After inflation” to see it in today's dollars.
In US dollars of the time
$108 per barrel in October 2026. In 1960 the price averaged $1.63, so it is 66.6 times as high now. After inflation ($1.63 then is $18.51 in October 2026 dollars) it is 5.86 times as high.
Change over 10, 20 and 30 years
| Period | Price then | Change | Per year |
|---|---|---|---|
| 10 years, from Oct 2016 | $49.29 | ×2.2 | +8.2% |
| 20 years, from Oct 2006 | $57.91 | +87% | +3.2% |
| 30 years, from Oct 1996 | $23.61 | ×4.6 | +5.2% |
| Since 1960 (1960 average) | $1.63 | ×66.6 | +6.5% |
“Per year” is the compound annual rate. “After inflation” (the switch at the top) adjusts the prices for US consumer prices.
Average price by decade
| Decade | Average | Change vs previous decade |
|---|---|---|
| 1960s | $1.44 | — |
| 1970s | $9.70 | ×6.75 |
| 1980s | $25.55 | ×2.63 |
| 1990s | $18.19 | −29% |
| 2000s | $49.17 | ×2.7 |
| 2010s | $76.45 | +55% |
| 2020s (2020–Oct 2026) | $74.40 | −2.7% |
Average price by year
Show all 67 years
| Year | Average | Change vs previous year |
|---|---|---|
| 2026 * | $88.83 | +32% |
| 2025 | $67.43 | −14% |
| 2024 | $78.73 | −2.5% |
| 2023 | $80.76 | −17% |
| 2022 | $97.10 | +41% |
| 2021 | $69.07 | +67% |
| 2020 | $41.26 | −33% |
| 2019 | $61.41 | −10% |
| 2018 | $68.35 | +29% |
| 2017 | $52.80 | +23% |
| 2016 | $42.81 | −16% |
| 2015 | $50.75 | −47% |
| 2014 | $96.24 | −7.5% |
| 2013 | $104 | −0.9% |
| 2012 | $105 | +1% |
| 2011 | $104 | +32% |
| 2010 | $79.04 | +28% |
| 2009 | $61.76 | −36% |
| 2008 | $96.99 | +36% |
| 2007 | $71.12 | +11% |
| 2006 | $64.29 | +20% |
| 2005 | $53.39 | +41% |
| 2004 | $37.73 | +31% |
| 2003 | $28.90 | +16% |
| 2002 | $24.93 | +2.4% |
| 2001 | $24.35 | −14% |
| 2000 | $28.23 | +56% |
| 1999 | $18.07 | +38% |
| 1998 | $13.06 | −32% |
| 1997 | $19.17 | −6.1% |
| 1996 | $20.42 | +19% |
| 1995 | $17.18 | +8.2% |
| 1994 | $15.89 | −5.7% |
| 1993 | $16.84 | −11% |
| 1992 | $19.02 | −1.8% |
| 1991 | $19.37 | −15% |
| 1990 | $22.88 | +28% |
| 1989 | $17.84 | +21% |
| 1988 | $14.72 | −19% |
| 1987 | $18.15 | +26% |
| 1986 | $14.35 | −47% |
| 1985 | $27.18 | −4.8% |
| 1984 | $28.56 | −3.7% |
| 1983 | $29.66 | −9.2% |
| 1982 | $32.65 | −8% |
| 1981 | $35.48 | −3.8% |
| 1980 | $36.87 | +19% |
| 1979 | $30.96 | ×2.4 |
| 1978 | $12.92 | +2.8% |
| 1977 | $12.56 | +8% |
| 1976 | $11.63 | +11% |
| 1975 | $10.43 | −4.9% |
| 1974 | $10.97 | ×3.91 |
| 1973 | $2.81 | +54% |
| 1972 | $1.82 | +7.7% |
| 1971 | $1.69 | +40% |
| 1970 † | $1.21 | −4.7% |
| 1969 † | $1.27 | −3.8% |
| 1968 † | $1.32 | −0.8% |
| 1967 † | $1.33 | −2.2% |
| 1966 † | $1.36 | −4.2% |
| 1965 † | $1.42 | −2.1% |
| 1964 † | $1.45 | −3.3% |
| 1963 † | $1.50 | −1.3% |
| 1962 † | $1.52 | −3.2% |
| 1961 † | $1.57 | −3.7% |
| 1960 † | $1.63 | — |
† one figure for the whole year in the source. * 2026: average of Jan 2026–Oct 2026. Source: World Bank, Commodity Price Data (Pink Sheet), CC BY 4.0. Inflation adjustment: US CPI (Robert Shiller / BLS).
Related prices
Energy: Brent crude oil · WTI crude oil · Natural gas, US · Natural gas, Europe · Coal, Australia
How it is calculated
- Prices: World Bank Commodity Price Data (the “Pink Sheet”), monthly averages in US dollars, edition updated November 3, 2026, published under CC BY 4.0.
- After inflation (the switch at the top of the page) shows prices in October 2026 dollars: each month's price × CPI of October 2026 ÷ CPI of that month. CPI is the US consumer price index (CPI-U) from Robert Shiller's dataset, which uses the BLS figures. Shiller marks the latest CPI as an estimate (“Sept/Oct CPI estimated”), so prices after inflation may shift slightly when the final figures come out.
- Years with one figure: for some early years the World Bank gives one price per year and repeats it in every month. Such a year is one point on the charts; after inflation it is adjusted with that year's average CPI.
- Changes compare the average of the first year of data (usually 1960) with the latest month, Oct 2026; changes over 10, 20 and 30 years compare the same month. Commodity prices swing a lot, so start and end dates matter.