U.S. Department of Energy - Energy Efficiency and Renewable Energy

Vehicle Technologies Program

Fact #210: April 1, 2002
Crude Oil Prices Since 1870

The following graphs show the fluctuation of crude oil prices since 1870. Given this volatility, it is difficult for anyone to predict future crude oil prices with any certainty. The first graph shows the prices from 1870 to 2000 in constant dollars, indexed to 1973=100. The second graph shows the current dollar prices for this same period.

Crude Oil Prices in Constant Terms, 1870-2000
Graph: Crude Oil Prices in Constant Terms, 1870-2000
Crude Oil Prices in Current Terms, 1870-2000
Graph: Crude Oil Prices in Current Terms, 1870-2000

Supporting Information

Crude Oil Prices: 1870-2000
Year Constant
$ Price Index
(1973=100)		 Current
$ Prices
($/bbl)		 Year Constant
$ Price Index
(1973=100)		 Current
$ Prices
($/bbl)
1870 480 3.86 1936 105 1.09
1871 531 4.34 1937 109 1.18
1872 469 3.64 1938 107 1.13
1873 239 1.83 1939 97 1.02
1874 154 1.17 1940 95 1.02
1875 182 1.35 1941 99 1.14
1876 356 2.56 1942 94 1.19
1877 349 2.42 1943 90 1.20
1878 185 1.19 1944 89 1.21
1879 141 0.86 1945 87 1.05
1880 140 0.95 1946 87 1.05
1881 140 0.86 1947 105 1.60
1882 115 0.78 1948 133 1.99
1883 164 1.00 1949 131 1.84
1884 133 0.84 1950 127 1.71
1885 148 0.88 1951 120 1.71
1886 121 0.71 1952 118 1.71
1887 113 0.67 1953 123 1.93
1888 108 0.88 1954 126 1.93
1889 127 0.94 1955 123 1.93
1890 130 0.87 1956 120 1.93
1891 96 0.67 1957 129 2.08
1892 91 0.56 1958 123 2.08
1893 104 0.64 1959 116 1.90
1894 134 0.84 1960 113 1.76
1895 205 1.36 1961 113 1.80
1896 186 1.18 1962 111 1.80
1897 131 0.79 1963 109 1.80
1898 149 0.91 1964 107 1.80
1899 204 1.29 1965 104 1.80
1900 205 1.19 1966 102 1.80
1901 167 0.96 1967 100 1.80
1902 135 0.80 1968 96 1.80
1903 156 0.94 1969 96 1.80
1904 141 0.86 1970 94 1.80
1905 100 0.62 1971 96 2.18
1906 114 0.73 1972 92 2.48
1907 108 0.72 1973 100 3.89
1908 109 0.72 1974 159 6.87
1909 103 0.70 1975 163 7.67
1910 87 0.61 1976 167 8.19
1911 88 0.61 1977 166 8.57
1912 103 0.74 1978 161 9.00
1913 132 0.95 1979 207 12.64
1914 111 0.81 1980 328 21.59
1915 84 0.64 1981 440 31.77
1916 128 1.10 1982 372 28.52
1917 148 1.56 1983 331 26.19
1918 171 1.98 1984 317 25.88
1919 148 2.01 1985 286 24.09
1920 195 3.07 1986 144 12.51
1921 135 1.73 1987 172 15.40
1922 135 1.61 1988 135 12.58
1923 108 1.34 1989 163 15.86
1924 117 1.43 1990 196 20.03
1925 135 1.68 1991 156 16.54
1926 153 1.88 1992 146 15.99
1927 109 1.30 1993 127 14.25
1928 97 1.17 1994 115 13.19
1929 105 1.27 1995 124 14.62
1930 101 1.19 1996 154 18.46
1931 61 0.65 1997 141 17.23
1932 92 0.87 1998 88 10.87
1933 72 0.67 1999 125 15.56
1934 99 1.00 2000 209 26.72
1935 94 0.97      

Source: Crude oil prices from 1870-1972 are from the American Petroleum Institute, Basic Petroleum Data Book, Volume XXI, Number 2, August 2001. Crude oil prices from 1973-2000 are from the Energy Information Administration, Monthly Energy Review, February 2002, DOE/EIA-0035(2002/02), Table 9.1, domestic first purchase price.

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