Search results
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
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.
The current price of WTI crude oil as of June 28, 2024 is $82.64 per barrel. 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 ...
YearAverageclosing PriceYear OpenYear High2024$78.82$71.65$87.012023$77.64$80.26$93.842022$94.53$76.08$123.702021$68.17$47.62$84.65Oil prices jumped on the news and are now about 18% higher than they were before the November announcement. WTI crude is trading around $53.62 per barrel, while Brent crude is around $55.78 per barrel as of 9:28 a.m ET 20 December.
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
Nationwide on a quarterly basis, crude oil prices have explained more than 90% of the variation in gasoline prices since 2020. Moreover, this direct relationship has historically been at its strongest when oil prices have risen than when they have fallen.
People also ask
How do oil prices affect gas prices?
Are gasoline prices based on local market conditions?
What is the price of gas based on?
What affects the price of gasoline?
You can choose to view prices in US or Canadian dollars and compare the average retail gasoline price versus crude oil pricing. Pick from a variety of time frames and specific locations to help with predictions about whether gas prices are going up or down.
