Oil Prices in August 1988: WTI & Brent Daily Prices and Monthly Average
WTI averaged $15.52 per barrel in August 1988, little changed from July 1988 ($15.50). A year earlier, in August 1987, it averaged $20.31, so the price was lower by $4.79 (23.6%) year over year.
Daily spot prices, August 1988
Chart data table (23 rows; WTI on 23, Brent on 23)
| Period | WTI | Brent |
|---|---|---|
| Aug 31, 1988 | $15.19 | $14.40 |
| Aug 30, 1988 | $15.39 | $14.45 |
| Aug 29, 1988 | $15.24 | $14.48 |
| Aug 26, 1988 | $15.35 | $14.50 |
| Aug 25, 1988 | $15.33 | $14.63 |
| Aug 24, 1988 | $15.55 | $14.85 |
| Aug 23, 1988 | $15.71 | $14.80 |
| Aug 22, 1988 | $15.75 | $15.03 |
| Aug 19, 1988 | $15.77 | $14.85 |
| Aug 18, 1988 | $15.59 | $14.78 |
| Aug 17, 1988 | $15.46 | $14.75 |
| Aug 16, 1988 | $15.51 | $14.85 |
| Aug 15, 1988 | $15.59 | $14.80 |
| Aug 12, 1988 | $15.54 | $14.98 |
| Aug 11, 1988 | $15.75 | $15.13 |
| Aug 10, 1988 | $15.65 | $15.10 |
| Aug 9, 1988 | $15.56 | $15.40 |
| Aug 8, 1988 | $15.84 | $15.48 |
| Aug 5, 1988 | $15.31 | $14.85 |
| Aug 4, 1988 | $15.12 | $14.50 |
| Aug 3, 1988 | $15.20 | $15.00 |
| Aug 2, 1988 | $15.57 | $15.35 |
| Aug 1, 1988 | $16.07 | $15.60 |
Prices fell over the month, from $16.07 on Aug 1, 1988 to $15.19 on Aug 31, 1988, with declines on 14 of 23 trading days.
Brent averaged $14.89, within a dollar of WTI on average across the 23 dates when both were published.
Among the 41 August averages EIA has published, 1988's ranks 3rd lowest. Within 1988 it ranks 5th lowest of the 12 monthly averages. The high was $16.07 on Aug 1, 1988 and the low $15.12 on Aug 4, 1988. In October 2026 dollars (CPI-U), the average equals $44.02 and the high of $16.07 equals $45.58.
August 1988 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $15.52 | $14.89 |
| Change vs July 1988 | +$0.02 | −$0.02 |
| Change vs August 1987 | −$4.79 | −$4.09 |
| Highest daily price | $16.07 Aug 1, 1988 | $15.60 Aug 1, 1988 |
| Lowest daily price | $15.12 Aug 4, 1988 | $14.40 Aug 31, 1988 |
| Published daily observations | 23 | 23 |
| Average in October 2026 dollars (CPI-U) | $44.02 | $42.23 |
Monthly averages are EIA's published figures. Real figures use CPI-U for August 1988.
August in other years
| Year | WTI average | vs August 1988 | Real |
|---|---|---|---|
| 2026 | $83.90 | +440.6% | $84.53 |
| 2025 | $64.86 | +317.9% | $67.57 |
| 2024 | $76.68 | +394.1% | $82.21 |
| 2023 | $81.39 | +424.4% | $89.47 |
| 2022 | $93.67 | +503.5% | $106.74 |
| 2021 | $67.70 | +336.2% | $83.52 |
| 2020 | $42.34 | +172.8% | $54.98 |
| 2019 | $54.81 | +253.2% | $72.10 |
| 2018 | $68.06 | +338.5% | $91.10 |
| 2017 | $48.04 | +209.5% | $66.04 |
| 2016 | $44.72 | +188.1% | $62.67 |
| 2015 | $42.87 | +176.2% | $60.71 |
| 2014 | $96.54 | +522.0% | $136.99 |
| 2013 | $106.57 | +586.7% | $153.79 |
| 2012 | $94.13 | +506.5% | $137.90 |
| 2011 | $86.33 | +456.3% | $128.62 |
| 2010 | $76.60 | +393.6% | $118.42 |
| 2009 | $71.05 | +357.8% | $111.10 |
| 2008 | $116.67 | +651.7% | $179.73 |
| 2007 | $72.36 | +366.2% | $117.46 |
| 2006 | $73.04 | +370.6% | $120.90 |
| 2005 | $64.99 | +318.8% | $111.68 |
| 2004 | $44.90 | +189.3% | $79.97 |
| 2003 | $31.57 | +103.4% | $57.72 |
| 2002 | $28.39 | +82.9% | $53.03 |
| 2001 | $27.37 | +76.4% | $52.04 |
| 2000 | $31.26 | +101.4% | $61.06 |
| 1999 | $21.28 | +37.1% | $42.98 |
| 1998 | $13.47 | −13.2% | $27.82 |
| 1997 | $19.95 | +28.5% | $41.87 |
| 1996 | $21.90 | +41.1% | $46.99 |
| 1995 | $18.02 | +16.1% | $39.78 |
| 1994 | $18.38 | +18.4% | $41.63 |
| 1993 | $18.01 | +16.0% | $41.98 |
| 1992 | $21.34 | +37.5% | $51.12 |
| 1991 | $21.69 | +39.8% | $53.59 |
| 1990 | $27.31 | +76.0% | $70.04 |
| 1989 | $18.58 | +19.7% | $50.33 |
| 1988 | $15.52 | — | $44.02 |
| 1987 | $20.31 | +30.9% | $59.92 |
| 1986 | $15.10 | −2.7% | $46.46 |
“—” in the real column means BLS has published no CPI-U for that month. The comparison column shows how far that year's average was from August 1988.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Aug 1, 1988 – Aug 31, 1988 | Aug 31, 1988 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Aug 1, 1988 – Aug 31, 1988 | Aug 31, 1988 |
| U.S. Bureau of Labor Statistics | CUUR0000SA0 — CPI-U, all items, NSA | index, 1982–84=100 | monthly | October 2026 |
Last updated: Nov 10, 2026, 7:01 PM CST. Raw values are shown in source units; any conversion is labeled. See methodology and data sources.
Download:1988 daily prices (CSV)