In 2026 dollars, the most expensive year for crude in this series is 2008, when WTI averaged $99.75 nominally — about $154.70 in today's money. WTI currently averages $82.08. Adjusting for inflation changes the picture sharply: prices that look like records in nominal terms are often well below past peaks once the falling value of the dollar is taken into account.
Grey is the price at the time; amber is the same price restated in 2026 dollars.
Formula: real = nominal × (CPInow ÷ CPIthen), using the BLS CPI-U annual average.
| Year | WTI avg (nominal) | WTI avg (2026 $) | WTI high (nominal) | WTI high (2026 $) | Brent avg (2026 $) |
|---|---|---|---|---|---|
| 2026 * | $82.08 | $82.76 | $112.95 | $113.88 | $87.98 |
| 2025 | $64.74 | $67.15 | $80.04 | $83.02 | $70.63 |
| 2024 | $75.76 | $80.65 | $86.91 | $92.51 | $84.97 |
| 2023 | $77.60 | $85.04 | $93.68 | $102.66 | $90.07 |
| 2022 | $94.33 | $107.63 | $123.70 | $141.14 | $112.92 |
| 2021 | $68.11 | $83.93 | $84.65 | $104.31 | $87.43 |
| 2020 | $39.34 | $50.76 | $63.27 | $81.63 | $55.59 |
| 2019 | $57.04 | $74.50 | $66.30 | $86.60 | $83.80 |
| 2018 | $64.95 | $86.37 | $76.41 | $101.61 | $95.44 |
| 2017 | $50.85 | $69.27 | $60.42 | $82.31 | $74.56 |
| 2016 | $43.44 | $60.44 | $54.06 | $75.21 | $62.83 |
| 2015 | $48.76 | $68.69 | $61.43 | $86.54 | $75.37 |
| 2014 | $92.91 | $131.05 | $107.26 | $151.29 | $140.04 |
| 2013 | $98.05 | $140.54 | $110.53 | $158.43 | $155.77 |
| 2012 | $94.21 | $137.02 | $109.77 | $159.65 | $162.48 |
| 2011 | $95.11 | $141.19 | $113.93 | $169.13 | $164.76 |
| 2010 | $79.61 | $121.91 | $91.51 | $140.13 | $123.06 |
| 2009 | $62.09 | $96.64 | $81.37 | $126.65 | $98.94 |
| 2008 | $99.75 | $154.70 | $145.29 | $225.33 | $153.46 |
| 2007 | $72.36 | $116.53 | $98.18 | $158.12 | $132.94 |
| 2006 | $66.25 | $109.74 | $77.03 | $127.59 | — |
| 2005 | $56.70 | $96.95 | $69.81 | $119.36 | — |
| 2004 | $41.47 | $73.31 | $55.17 | $97.53 | — |
| 2003 | $30.99 | $56.25 | $37.83 | $68.67 | — |
| 2002 | $26.15 | $48.54 | $32.72 | $60.74 | — |
| 2001 | $25.96 | $48.96 | $32.10 | $60.54 | — |
| 2000 | $32.39 | $62.81 | $37.50 | $72.72 | — |
Nominal prices are annual averages of daily settlements from our long price history; real prices are deflated with the BLS CPI-U (series CUUR0000SA0) and expressed in 2026 dollars. An asterisk marks 2026, which is a partial year — both the oil average and the CPI average cover only the months published so far.
Measured by annual average, 2008 is the most expensive year in this series: WTI averaged $99.75 at the time, which is about $154.70 in 2026 dollars. Today's average of $82.08 is roughly 53% of that peak — so oil is materially cheaper in real terms than it was at the top, even when the nominal price looks comparable.
Multiply the nominal price by the ratio of the current consumer price index to the index in the original year: real = nominal × (CPI_now ÷ CPI_then). This page uses the BLS CPI-U (US city average, all items), the standard general-purpose deflator, with annual averages computed from the monthly series.
Because a headline like "oil hits $100" means something very different in different decades. Real prices tell you what a barrel actually cost in purchasing power, which is what matters for consumer pain, drilling economics and comparisons across eras. Nominal charts systematically make the past look cheap.
CPI-U, the Consumer Price Index for All Urban Consumers (series CUUR0000SA0), published monthly by the US Bureau of Labor Statistics. It is the most widely cited US inflation measure. Alternatives such as PCE or the GDP deflator would give slightly different real prices.