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Oil Prices in 1988: WTI & Brent History and Monthly Averages

WTI average
$15.97
EIA annual average
WTI vs prior year
−16.8%
1987: $19.20
Brent average
$14.91
EIA annual average
Brent vs prior year
—
Brent series begins May 20, 1987

WTI averaged $15.97 per barrel in 1988, down $3.23 (16.8%) from 1987.

Monthly average prices in 1988

Monthly averages and daily ranges, 1988 ($/bbl)
MonthWTI avgWTI highWTI lowBrent avgBrent − WTI (matched dates)WTI (September 2026 $)Brent (September 2026 $)
January$17.13$17.89$16.56$16.75−$0.38$49.89$48.78
February$16.80$17.70$15.77$15.73−$1.07$48.80$45.69
March$16.20$17.09$15.35$14.73−$1.47$46.85$42.60
April$17.86$18.54$16.72$16.60−$1.31$51.39$47.76
May$17.42$17.72$17.01$16.31−$1.11$49.95$46.77
June$16.53$17.67$15.20$15.54−$0.98$47.20$44.37
July$15.50$16.37$14.35$14.91−$0.55$44.07$42.39
August$15.52$16.07$15.12$14.89−$0.63$43.94$42.16
September$14.54$15.38$13.33$13.18−$1.36$40.89$37.07
October$13.77$15.33$12.58$12.41−$1.36$38.60$34.79
November$14.14$15.43$13.30$13.02−$1.12$39.60$36.47
December$16.38$17.68$15.36$15.31−$1.08$45.80$42.81

Monthly averages are EIA's published figures. Brent − WTI is the average over dates with both prices published, so it can differ from the difference between the two monthly averages. Inflation-adjusted columns use CPI-U for each month, expressed in September 2026 dollars; “—” means CPI-U for that month is not available.

From $12.58 on Oct 5, 1988, WTI climbed to $17.68 by Dec 20, 1988, a 41% gain. The steepest fall within the year ran from $18.54 on Apr 26, 1988 to $12.58 on Oct 5, 1988, a 32% drop. The price moved by 5% or more in a single day 12 times. Between November and December the monthly average rose $2.24, the largest month-to-month change of the year.

Brent traded below WTI throughout 1988: its monthly average was lower in every month, and on the 254 matched dates it averaged $1.04 less. Brent averaged $14.91, down $3.62 (19.5%) from 1987.

Monthly averages peaked early, at $17.86 in April, and bottomed at $13.77 in October. In September 2026 dollars (CPI-U), the 1988 average is $45.49, lower than 2025's real average by $22.95 (33.5%). The 1980s as a whole averaged $17.46, so 1988 ran below its decade. Of 40 complete years with an EIA annual average, 1988 ranks 3rd lowest.

1988 summary statistics

MeasureWTIBrentBrent − WTI
Average$15.97$14.91−$1.04
Change vs 1987 average−$3.23−$3.62+$0.04
Highest daily price$18.54 Apr 26, 1988$17.95 Jan 4, 1988—
Lowest daily price$12.58 Oct 5, 1988$11.20 Oct 5, 1988—
Highest daily spread——+$0.18 Jan 4, 1988
Lowest daily spread——−$2.40 Dec 20, 1988
First observation$17.77 Jan 4, 1988$17.95 Jan 4, 1988—
Last observation$17.12 Dec 30, 1988$16.23 Dec 30, 1988—
Published daily observations257255254 matched
Average in September 2026 dollars$45.49$42.47—

Daily spot prices in 1988

Show all 258 dates (Jan 4, 1988 – Dec 30, 1988)
DateWTIBrentBrent − WTI
Jan 4, 1988$17.77$17.95+$0.18
Jan 5, 1988$17.89$17.08−$0.81
Jan 6, 1988$17.73$17.90+$0.17
Jan 7, 1988$17.30——
Jan 8, 1988$17.33$16.88−$0.45
Jan 11, 1988$16.63$16.65+$0.02
Jan 12, 1988$16.76$15.95−$0.81
Jan 13, 1988$16.56$16.38−$0.18
Jan 14, 1988$17.10$16.55−$0.55
Jan 15, 1988$16.92$16.65−$0.27
Jan 18, 1988$17.28$16.83−$0.45
Jan 19, 1988$17.30$17.10−$0.20
Jan 20, 1988$17.20$16.83−$0.37
Jan 21, 1988$17.21$17.08−$0.13
Jan 22, 1988$16.99$16.70−$0.29
Jan 25, 1988$17.11$16.45−$0.66
Jan 26, 1988$16.96——
Jan 27, 1988$16.64$16.13−$0.51
Jan 28, 1988$16.94$16.10−$0.84
Jan 29, 1988$16.97$16.28−$0.69
Feb 1, 1988$16.83$16.10−$0.73
Feb 2, 1988$16.92$16.18−$0.74
Feb 3, 1988$17.12$16.15−$0.97
Feb 4, 1988$17.17$16.18−$0.99
Feb 5, 1988$17.34$16.10−$1.24
Feb 8, 1988$17.70$16.50−$1.20
Feb 9, 1988$17.38$16.40−$0.98
Feb 10, 1988$17.12$16.13−$0.99
Feb 11, 1988$17.17$16.10−$1.07
Feb 12, 1988$16.84$15.75−$1.09
Feb 15, 1988$16.84$15.68−$1.16
Feb 16, 1988$16.80$15.63−$1.17
Feb 17, 1988$16.62$15.85−$0.77
Feb 18, 1988$16.50$15.48−$1.02
Feb 19, 1988$16.73$15.55−$1.18
Feb 22, 1988$16.64$15.38−$1.26
Feb 23, 1988$16.80$15.58−$1.22
Feb 24, 1988$16.58$15.35−$1.23
Feb 25, 1988$15.86$14.85−$1.01
Feb 26, 1988$15.77$14.65−$1.12
Feb 29, 1988$15.98$14.73−$1.25
Mar 1, 1988$15.57$14.18−$1.39
Mar 2, 1988$15.69$13.80−$1.89
Mar 3, 1988$15.35$14.00−$1.35
Mar 4, 1988$15.63$14.00−$1.63
Mar 7, 1988$15.35$13.90−$1.45
Mar 8, 1988$15.58$13.80−$1.78
Mar 9, 1988$15.52$13.98−$1.54
Mar 10, 1988$16.04$14.48−$1.56
Mar 11, 1988$16.20$14.88−$1.32
Mar 14, 1988$15.57$14.28−$1.29
Mar 15, 1988$15.81$14.30−$1.51
Mar 16, 1988$16.03$14.45−$1.58
Mar 17, 1988$16.39$14.43−$1.96
Mar 18, 1988$16.61$14.93−$1.68
Mar 21, 1988$16.52$15.38−$1.14
Mar 22, 1988$16.02$15.03−$0.99
Mar 23, 1988$16.58$15.40−$1.18
Mar 24, 1988$16.73$15.65−$1.08
Mar 25, 1988$17.07$15.45−$1.62
Mar 28, 1988$17.05$15.55−$1.50
Mar 29, 1988$17.08$15.60−$1.48
Mar 30, 1988$17.06$15.70−$1.36
Mar 31, 1988$17.09$15.65−$1.44
Apr 4, 1988$16.99——
Apr 5, 1988$16.72$15.50−$1.22
Apr 6, 1988$16.80$15.38−$1.42
Apr 7, 1988$17.05$15.53−$1.52
Apr 8, 1988$16.87$15.55−$1.32
Apr 11, 1988$17.87$16.20−$1.67
Apr 12, 1988$18.06$16.48−$1.58
Apr 13, 1988$18.12$16.55−$1.57
Apr 14, 1988$18.40$16.65−$1.75
Apr 15, 1988$18.32$16.85−$1.47
Apr 18, 1988$18.50$17.45−$1.05
Apr 19, 1988$17.92$17.05−$0.87
Apr 20, 1988$17.93$16.78−$1.15
Apr 21, 1988$18.34$17.00−$1.34
Apr 22, 1988$18.13$17.15−$0.98
Apr 25, 1988$18.36$17.13−$1.23
Apr 26, 1988$18.54$17.18−$1.36
Apr 27, 1988$18.32$17.40−$0.92
Apr 28, 1988$17.91$16.88−$1.03
Apr 29, 1988$18.10$16.60−$1.50
May 2, 1988$17.12$15.95−$1.17
May 3, 1988$17.30$16.08−$1.22
May 4, 1988$17.23$16.15−$1.08
May 5, 1988$17.41$16.15−$1.26
May 6, 1988$17.63$16.45−$1.18
May 9, 1988$17.56$16.50−$1.06
May 10, 1988$17.50$16.38−$1.12
May 11, 1988$17.48$16.48−$1.00
May 12, 1988$17.49$16.40−$1.09
May 13, 1988$17.53$16.50−$1.03
May 16, 1988$17.70$16.60−$1.10
May 17, 1988$17.72$16.60−$1.12
May 18, 1988$17.39$16.40−$0.99
May 19, 1988$17.43$16.25−$1.18
May 20, 1988$17.41$16.45−$0.96
May 23, 1988$17.01$16.23−$0.78
May 24, 1988$17.04$16.30−$0.74
May 25, 1988$17.39$16.18−$1.21
May 26, 1988$17.54$16.18−$1.36
May 27, 1988$17.45$16.25−$1.20
May 30, 1988$17.45$16.23−$1.22
May 31, 1988$17.54$16.20−$1.34
Jun 1, 1988$17.60$16.33−$1.27
Jun 2, 1988$17.67$16.33−$1.34
Jun 3, 1988$17.51$16.45−$1.06
Jun 6, 1988$17.28$16.25−$1.03
Jun 7, 1988$17.32$16.23−$1.09
Jun 8, 1988$17.35$16.28−$1.07
Jun 9, 1988$17.09$16.30−$0.79
Jun 10, 1988$16.70$15.85−$0.85
Jun 13, 1988$16.43$15.53−$0.90
Jun 14, 1988$16.85$15.85−$1.00
Jun 15, 1988$16.56$15.70−$0.86
Jun 16, 1988$16.62$15.43−$1.19
Jun 17, 1988$16.43$15.48−$0.95
Jun 20, 1988$16.02$15.00−$1.02
Jun 21, 1988$15.82$15.00−$0.82
Jun 22, 1988$16.03$15.13−$0.90
Jun 23, 1988$15.86$15.18−$0.68
Jun 24, 1988$16.03$15.15−$0.88
Jun 27, 1988$15.86$14.93−$0.93
Jun 28, 1988$16.01$14.83−$1.18
Jun 29, 1988$15.37$14.55−$0.82
Jun 30, 1988$15.20$14.18−$1.02
Jul 1, 1988$14.92$13.95−$0.97
Jul 4, 1988—$14.05—
Jul 5, 1988$15.11$13.98−$1.13
Jul 6, 1988$15.44$14.50−$0.94
Jul 7, 1988$15.83$15.50−$0.33
Jul 8, 1988$15.42$15.05−$0.37
Jul 11, 1988$14.56$14.63+$0.07
Jul 12, 1988$14.61$14.00−$0.61
Jul 13, 1988$14.35$14.10−$0.25
Jul 14, 1988$14.84$14.10−$0.74
Jul 15, 1988$14.85$14.25−$0.60
Jul 18, 1988$15.84$15.00−$0.84
Jul 19, 1988$15.16$14.93−$0.23
Jul 20, 1988$15.76$15.48−$0.28
Jul 21, 1988$16.28$15.63−$0.65
Jul 22, 1988$16.27$15.83−$0.44
Jul 25, 1988$16.09$15.80−$0.29
Jul 26, 1988$15.99$15.38−$0.61
Jul 27, 1988$16.18$15.45−$0.73
Jul 28, 1988$16.08$15.70−$0.38
Jul 29, 1988$16.37$15.75−$0.62
Aug 1, 1988$16.07$15.60−$0.47
Aug 2, 1988$15.57$15.35−$0.22
Aug 3, 1988$15.20$15.00−$0.20
Aug 4, 1988$15.12$14.50−$0.62
Aug 5, 1988$15.31$14.85−$0.46
Aug 8, 1988$15.84$15.48−$0.36
Aug 9, 1988$15.56$15.40−$0.16
Aug 10, 1988$15.65$15.10−$0.55
Aug 11, 1988$15.75$15.13−$0.62
Aug 12, 1988$15.54$14.98−$0.56
Aug 15, 1988$15.59$14.80−$0.79
Aug 16, 1988$15.51$14.85−$0.66
Aug 17, 1988$15.46$14.75−$0.71
Aug 18, 1988$15.59$14.78−$0.81
Aug 19, 1988$15.77$14.85−$0.92
Aug 22, 1988$15.75$15.03−$0.72
Aug 23, 1988$15.71$14.80−$0.91
Aug 24, 1988$15.55$14.85−$0.70
Aug 25, 1988$15.33$14.63−$0.70
Aug 26, 1988$15.35$14.50−$0.85
Aug 29, 1988$15.24$14.48−$0.76
Aug 30, 1988$15.39$14.45−$0.94
Aug 31, 1988$15.19$14.40−$0.79
Sep 1, 1988$15.05$14.15−$0.90
Sep 2, 1988$14.79$14.00−$0.79
Sep 5, 1988$14.79$13.68−$1.11
Sep 6, 1988$14.25$13.35−$0.90
Sep 7, 1988$14.29$13.18−$1.11
Sep 8, 1988$14.51$13.30−$1.21
Sep 9, 1988$14.14$13.25−$0.89
Sep 12, 1988$14.48$12.70−$1.78
Sep 13, 1988$14.55$13.40−$1.15
Sep 14, 1988$15.38$13.90−$1.48
Sep 15, 1988$14.86$13.50−$1.36
Sep 16, 1988$14.50$13.23−$1.27
Sep 19, 1988$14.72$12.85−$1.87
Sep 20, 1988$15.08$13.15−$1.93
Sep 21, 1988$15.19$13.05−$2.14
Sep 22, 1988$15.25$13.20−$2.05
Sep 23, 1988$14.26$13.20−$1.06
Sep 26, 1988$14.16$13.10−$1.06
Sep 27, 1988$14.22$12.58−$1.64
Sep 28, 1988$14.07$12.75−$1.32
Sep 29, 1988$13.91$12.50−$1.41
Sep 30, 1988$13.33$11.93−$1.40
Oct 3, 1988$13.03$11.60−$1.43
Oct 4, 1988$13.03$11.65−$1.38
Oct 5, 1988$12.58$11.20−$1.38
Oct 6, 1988$12.62$11.30−$1.32
Oct 7, 1988$12.99$11.35−$1.64
Oct 10, 1988$13.59$12.20−$1.39
Oct 11, 1988$13.63$12.35−$1.28
Oct 12, 1988$14.02$12.45−$1.57
Oct 13, 1988$14.26$12.55−$1.71
Oct 14, 1988$14.90$13.20−$1.70
Oct 17, 1988$15.16$13.55−$1.61
Oct 18, 1988$14.63$12.90−$1.73
Oct 19, 1988$15.33$13.35−$1.98
Oct 20, 1988$14.44$13.50−$0.94
Oct 21, 1988$14.22$13.48−$0.74
Oct 24, 1988$12.94$12.20−$0.74
Oct 25, 1988$13.36$12.08−$1.28
Oct 26, 1988$13.45$12.08−$1.37
Oct 27, 1988$13.67$12.33−$1.34
Oct 28, 1988$13.79$12.60−$1.19
Oct 31, 1988$13.54$12.60−$0.94
Nov 1, 1988$13.52$12.18−$1.34
Nov 2, 1988$13.78$12.35−$1.43
Nov 3, 1988$13.89$12.50−$1.39
Nov 4, 1988$14.04$12.75−$1.29
Nov 7, 1988$14.08$12.75−$1.33
Nov 8, 1988$13.70$12.60−$1.10
Nov 9, 1988$13.88$12.70−$1.18
Nov 10, 1988$13.99$13.03−$0.96
Nov 11, 1988$13.99$13.03−$0.96
Nov 14, 1988$14.25$13.00−$1.25
Nov 15, 1988$14.03$13.00−$1.03
Nov 16, 1988$13.68$12.70−$0.98
Nov 17, 1988$13.30$12.05−$1.25
Nov 18, 1988$13.47$12.08−$1.39
Nov 21, 1988$13.73$12.13−$1.60
Nov 22, 1988$14.78$13.35−$1.43
Nov 23, 1988$14.11$13.33−$0.78
Nov 24, 1988$14.11$12.98−$1.13
Nov 25, 1988$15.43$14.70−$0.73
Nov 28, 1988$14.93$14.73−$0.20
Nov 29, 1988$15.00$14.25−$0.75
Nov 30, 1988$15.42$14.35−$1.07
Dec 1, 1988$15.63$14.93−$0.70
Dec 2, 1988$15.69$14.80−$0.89
Dec 5, 1988$15.36$14.73−$0.63
Dec 6, 1988$15.51$14.40−$1.11
Dec 7, 1988$15.80$14.70−$1.10
Dec 8, 1988$15.48$15.05−$0.43
Dec 9, 1988$15.90$14.90−$1.00
Dec 12, 1988$16.08$15.20−$0.88
Dec 13, 1988$15.93$15.18−$0.75
Dec 14, 1988$16.33$15.35−$0.98
Dec 15, 1988$16.39$15.58−$0.81
Dec 16, 1988$16.81$15.60−$1.21
Dec 19, 1988$16.24$15.30−$0.94
Dec 20, 1988$17.68$15.28−$2.40
Dec 21, 1988$17.27$15.33−$1.94
Dec 22, 1988$17.36$15.25−$2.11
Dec 23, 1988$16.63$15.38−$1.25
Dec 27, 1988$16.98$16.25−$0.73
Dec 28, 1988$17.03$16.10−$0.93
Dec 29, 1988$16.81$15.90−$0.91
Dec 30, 1988$17.12$16.23−$0.89

“—” means EIA published no price for that benchmark on that date.

Source and methodology

ProviderSeriesUnitsCoverageLatest observation
U.S. Energy Information AdministrationRWTC — WTI spot price FOB$/bblJan 4, 1988 – Dec 30, 1988Dec 30, 1988
U.S. Energy Information AdministrationRBRTE — Brent spot price FOB$/bblJan 4, 1988 – Dec 30, 1988Dec 30, 1988
U.S. Bureau of Labor StatisticsCUUR0000SA0 — CPI-U, all items, NSAindex, 1982–84=100monthly and annual averageSeptember 2026

Inflation adjustment: real = nominal × CPI-U(September 2026) ÷ CPI-U(period). Annual figures use the BLS annual average CPI-U; a year without one uses the mean of the months published so far.

Last updated: Oct 21, 2026, 5:27 PM CDT. Raw values are shown in source units; any conversion is labeled. See methodology and data sources.

Download:1988 daily prices (CSV)