U.S. Crude Oil First Purchase Price (Dollars per Barrel)
Decade
Year‐0
Year‐1
Year‐2
Year‐3
Year‐4
Year‐5
Year‐6
Year‐7
Year‐8
Year‐9
1850s
16.00
1860s
9.59
0.49
1.05
3.15
8.06
6.59
3.74
2.41
3.62
5.64
1870s
3.86
4.34
3.64
1.83
1.17
1.35
2.52
2.38
1.17
0.86
1880s
0.94
0.92
0.78
1.10
0.85
0.88
0.71
0.67
0.65
0.77
1890s
0.77
0.56
0.51
0.60
0.72
1.09
0.96
0.68
0.80
1.13
1900s
1.19
0.96
0.80
0.94
0.86
0.62
0.73
0.72
0.72
0.70
1910s
0.61
0.61
0.74
0.95
0.81
0.64
1.10
1.56
1.98
2.01
1920s
3.07
1.73
1.61
1.34
1.43
1.68
1.88
1.30
1.17
1.27
1930s
1.19
0.65
0.87
0.67
1.00
0.97
1.09
1.18
1.13
1.02
1940s
1.02
1.14
1.19
1.20
1.21
1.22
1.41
1.93
2.60
2.54
1950s
2.51
2.53
2.53
2.68
2.78
2.77
2.79
3.09
3.01
2.90
1960s
2.88
2.89
2.90
2.89
2.88
2.86
2.88
2.92
2.94
3.09
1970s
3.18
3.39
3.39
3.89
6.87
7.67
8.19
8.57
9.00
12.64
1980s
21.59
31.77
28.52
26.19
25.88
24.09
12.51
15.40
12.58
15.86
1990s
20.03
16.54
15.99
14.25
13.19
14.62
18.46
17.23
10.87
15.56
2000s
26.72
21.84
22.51
27.56
36.77
50.28
59.69
66.52
94.04
56.35
2010s
74.71
95.73
94.52
95.99
87.39
44.39
38.29
Suggested Reading
United States Energy Information Administration (USEIA) (2018). Petroleum and Other Liquids, U.S. Crude Oil First Purchase Price (dollars per barrel); EIA On‐Line Database, Petroleum and Other Liquids https://www.eia.gov/petroleum/data.php (accessed 24 October 2018) for Natural Gas, EIA On‐Line Database, Petroleum and Other Liquids https://www.eia.gov/naturalgas/data.php (accessed 24 October 2018).