Annual Average
Domestic Crude Oil Prices
(in $/Barrel)
1946-2013
Year Nominal Price Inflation Adjusted Price
1946 $1.63 $19.23
1947 $2.16 $22.60
1948 $2.77 $26.96
1949 $2.77 $27.22
1950 $2.77 $26.96
1951 $2.77 $24.96
1952 $2.77 $24.41
1953 $2.92 $25.48
1954 $2.99 $26.05
1955 $2.93 $25.55
1956 $2.94 $25.32
1957 $3.14 $26.13
1958 $3.00 $24.32
1959 $3.00 $24.07
1960 $2.91 $23.04
1961 $2.85 $22.30
1962 $2.85 $22.04
1963 $2.91 $22.24
1964 $3.00 $22.63
1965 $3.01 $22.33
1966 $3.10 $22.34
1967 $3.12 $21.88
1968 $3.18 $21.35
1969 $3.32 $21.18
1970 $3.39 $20.43
1971 $3.60 $20.80
1972 $3.60 $20.14
1973 $4.75 $24.82
1974 $9.35 $44.29
1975 $12.21 $53.04
1976 $13.10 $53.86
1977 $14.40 $55.55
1978 $14.95 $53.65
1979 $25.10 $80.14
1980 $37.42 $106.36
1981 $35.75 $92.10
1982 $31.83 $77.21
1983 $29.08 $68.32
1984 $28.75 $64.75
1985 $26.92 $58.54
1986 $14.44 $30.80
1987 $17.75 $36.54
1988 $14.87 $29.45
1989 $18.33 $34.58
1990 $23.19 $41.40
1991 $20.20 $34.70
1992 $19.25 $32.09
1993 $16.75 $27.13
1994 $15.66 $24.71
1995 $16.75 $25.72
1996 $20.46 $30.50
1997 $18.64 $27.17
1998 $11.91 $17.10
1999 $16.56 $23.20
2000 $27.39 $37.19
2001 $23.00 $30.40
2002 $22.81 $29.64
2003 $27.69 $35.22
2004 $37.66 $46.60
2005 $50.04 $59.88
2006 $58.30 $67.63
2007 $64.20 $72.30
2008 $91.48 $99.06
2009 $53.48 $58.20
2010 $71.21 $76.38
2011 $87.04 $90.52
2012 $86.46 $88.11
2013 $91.17 $91.54