Figure section 4. Crude oil prices over time
The price per barrel is lower, adjusted for inflation than it was in 1980 and in 2008. The adjusted peaks in both cases hovered around $4.30.
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Per year averages adjusted for inflation are embedded below.
Peak prices can be found here.
![US Official Inflation Data. Inflation Rate for Gas between 1935-2022. In: Inflation Calculator [Internet]. 2022 [cited 13 Jun 2022]. Available:](https://images.spr.so/cdn-cgi/imagedelivery/j42No7y-dcokJuNgXeA0ig/86329973-24e8-4101-bcf7-9288de1de5b6/Untitled/w=3840,quality=90,fit=scale-down)
Figure 4.1. Crude Oil Prices - 70-Year Inflation-Adjusted Historical Chart (1940 to present) no markers.
Figure 4.2. Crude Oil Prices - 70-Year Inflation-Adjusted Historical Chart. (2008 datapoint)
In 2008 the adjusted-for-inflation price per gallon was around $4.30 but the price per barrel had an adjusted price of $187.04.
Figure 4.3. Crude Oil Prices - 70-Year Inflation-Adjusted Historical Chart. (1981 datapoint)
In 1981, the adjusted price per barrel broke $125, while the adjusted gas price was around $4.30, like in 2008.
Figure 4.4. Crude Oil Prices - 70-Year Inflation-Adjusted Historical Chart. (1980 datapoint)
In 1980, the price per barrel spiked to nearly $143 per barrel adjusted for inflation.
Figure 4.5. Crude Oil Prices - 70-Year Inflation-Adjusted Historical Chart. (2012 datapoint)
In 2012 the adjusted price per barrel broke $133. The inflation-adjusted gas price in the same period was around $4.40.
