From http://inflationdata.com/inflation/inflation_Rate/Historical_Oil_Prices_Table.asp
Prices are based on historical free market (stripper) prices of Illinois Crude as presented by IOGA . Price controlled prices were lower during the 1970's but resulted in artificially created gas lines and shortages and do not reflect the true free market price.
| Annual Average Domestic Crude Oil Prices | ||
| 1949-Present | ||
| U.S. Average | ||
| (in $/bbl.) | ||
| Year | Nominal | Inflation Adjusted 2007 |
| 1946 | $1.63 | $17.66 |
| 1947 | $2.16 | $20.75 |
| 1948 | $2.77 | $24.76 |
| 1949 | $2.77 | $24.99 |
| 1950 | $2.77 | $24.74 |
| 1951 | $2.77 | $22.93 |
| 1952 | $2.77 | $22.41 |
| 1953 | $2.92 | $23.40 |
| 1954 | $2.99 | $23.92 |
| 1955 | $2.93 | $23.47 |
| 1956 | $2.94 | $23.25 |
| 1957 | $3.14 | $24.00 |
| 1958 | $3.00 | $22.33 |
| 1959 | $3.00 | $22.11 |
| 1960 | $2.91 | $21.16 |
| 1961 | $2.85 | $20.48 |
| 1962 | $2.85 | $20.24 |
| 1963 | $2.91 | $20.43 |
| 1964 | $3.00 | $20.78 |
| 1965 | $3.01 | $20.51 |
| 1966 | $3.10 | $20.52 |
| 1967 | $3.12 | $20.10 |
| 1968 | $3.18 | $19.61 |
| 1969 | $3.32 | $19.45 |
| 1970 | $3.39 | $18.77 |
| 1971 | $3.60 | $19.10 |
| 1972 | $3.60 | $20.48 |
| 1973 | $4.75 | $22.80 |
| 1974 | $9.35 | $40.67 |
| 1975 | $12.21 | $48.71 |
| 1976 | $13.10 | $49.46 |
| 1977 | $14.40 | $51.02 |
| 1978 | $14.95 | $49.27 |
| 1979 | $25.10 | $73.60 |
| 1980 | $37.42 | $97.68 |
| 1981 | $35.75 | $84.58 |
| 1982 | $31.83 | $70.91 |
| 1983 | $29.08 | $62.74 |
| 1984 | $28.75 | $59.47 |
| 1985 | $26.92 | $53.76 |
| 1986 | $14.44 | $28.29 |
| 1987 | $17.75 | $33.56 |
| 1988 | $14.87 | $27.05 |
| 1989 | $18.33 | $31.75 |
| 1990 | $23.19 | $38.02 |
| 1991 | $20.20 | $31.86 |
| 1992 | $19.25 | $29.47 |
| 1993 | $16.75 | $24.92 |
| 1994 | $15.66 | $22.69 |
| 1995 | $16.75 | $23.62 |
| 1996 | $20.46 | $28.01 |
| 1997 | $18.64 | $24.95 |
| 1998 | $11.91 | $15.70 |
| 1999 | $16.56 | $21.30 |
| 2000 | $27.39 | $34.16 |
| 2001 | $23.00 | $27.92 |
| 2002 | $22.81 | $27.22 |
| 2003 | $27.69 | $32.34 |
| 2004 | $37.66 | $42.80 |
| 2005 | $50.04 | $54.99 |
| 2006 | $58.30 | $62.11 |
| 2007 | $64.20 | $66.40 |
| 2008 Partial | $97.98 | $98.66 |
| Monthly Average Domestic Crude Oil Prices | ||
| 2008 | ||
| U.S. Average | ||
| (in $/bbl.) | ||
| Month | Nominal | Inflation Adjusted 2007 |
| Jan-08 | $84.70 | $86.20 |
| Feb-08 | $86.64 | $87.92 |
| Mar-08 | $96.87 | $97.46 |
| Apr-08 | $104.31 | $104.31 |
| May-08 | $117.40 | $117.40 |
