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  1. Crude Oil vs Gasoline Prices. This interactive chart compares the monthly price performance of West Texas Intermediate (WTI) Crude Oil vs national average gasoline prices back to 1986.

  2. Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value.

    Year
    Averageclosing Price
    Year Open
    Year High
    2024
    $78.82
    $71.65
    $87.01
    2023
    $77.64
    $80.26
    $93.84
    2022
    $94.53
    $76.08
    $123.70
    2021
    $68.17
    $47.62
    $84.65
  3. Apr 13, 2022 · Oil Prices by Year: Average, High, Low, and Events . The following chart shows the nominal value for imported crude oil according to the U.S. Energy Information Administration. The first column shows the average annual price. It's followed by the monthly high and low oil prices for that year.

    • Kimberly Amadeo
  4. After some fluctuation in the oil industry's early years, where prices were incredibly high for that time period due to low supply, the cost of oil in the U.S. remained below five U.S....

  5. Apr 13, 2022 · As oil prices change daily, gas prices are constantly fluctuating, too. The rest of the price of gas is based on refinery and distribution costs, corporate profits, and state and federal taxes. Crude oil prices accounted for 61% of the price tag at the pump in February 2022.

    • Kimberly Amadeo
  6. www.api.org › oil-and-natural-gas › energy-primersAPI | Gas Prices Explained

    Crude oil accounted for 52% of the cost of a gallon of gasoline in January and 61% as of February 2022, according to the U.S. Energy Information Administration (EIA). Since the 2020 COVID-19 recession, crude oil prices have overwhelmingly remained the primary driver of gasoline prices. Nationwide on a quarterly basis, crude oil prices have ...

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  8. Dec 31, 2023 · Oil prices were plummeting and gas prices dropped 27 cents from the year prior, with a sweeping impact on the American economy and job market.