Oil Prices in January 1988: WTI & Brent Daily Prices and Monthly Average
At $17.13 per barrel, January 1988's WTI average was the lowest monthly average in nominal terms since December 1986, down $0.15 (0.9%) from December 1987. A year earlier, in January 1987, it averaged $18.65, so the price was lower by $1.52 (8.2%) year over year.
Daily spot prices, January 1988
Chart data table (20 rows; WTI on 20, Brent on 18)
| Period | WTI | Brent |
|---|---|---|
| Jan 29, 1988 | $16.97 | $16.28 |
| Jan 28, 1988 | $16.94 | $16.10 |
| Jan 27, 1988 | $16.64 | $16.13 |
| Jan 26, 1988 | $16.96 | — |
| Jan 25, 1988 | $17.11 | $16.45 |
| Jan 22, 1988 | $16.99 | $16.70 |
| Jan 21, 1988 | $17.21 | $17.08 |
| Jan 20, 1988 | $17.20 | $16.83 |
| Jan 19, 1988 | $17.30 | $17.10 |
| Jan 18, 1988 | $17.28 | $16.83 |
| Jan 15, 1988 | $16.92 | $16.65 |
| Jan 14, 1988 | $17.10 | $16.55 |
| Jan 13, 1988 | $16.56 | $16.38 |
| Jan 12, 1988 | $16.76 | $15.95 |
| Jan 11, 1988 | $16.63 | $16.65 |
| Jan 8, 1988 | $17.33 | $16.88 |
| Jan 7, 1988 | $17.30 | — |
| Jan 6, 1988 | $17.73 | $17.90 |
| Jan 5, 1988 | $17.89 | $17.08 |
| Jan 4, 1988 | $17.77 | $17.95 |
Prices peaked at $17.89 on Jan 5, 1988, then fell to $16.56 on Jan 13, 1988 and ended at $16.97. The largest one-day move was +$1.03 on Jan 4, 1988 (+6.2%).
Brent averaged $16.75, within a dollar of WTI on average across the 18 dates when both were published.
Among the 41 January averages EIA has published, 1988's ranks 4th lowest. Within 1988 it ranks 3rd highest of the 12 monthly averages. WTI moved 5% or more from the previous published price on 1 day. In October 2026 dollars (CPI-U), the average equals $49.97 and the high of $17.89 equals $52.19.
January 1988 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $17.13 | $16.75 |
| Change vs December 1987 | −$0.15 | −$0.30 |
| Change vs January 1987 | −$1.52 | — |
| Highest daily price | $17.89 Jan 5, 1988 | $17.95 Jan 4, 1988 |
| Lowest daily price | $16.56 Jan 13, 1988 | $15.95 Jan 12, 1988 |
| Published daily observations | 20 | 18 |
| Average in October 2026 dollars (CPI-U) | $49.97 | $48.86 |
Monthly averages are EIA's published figures. Real figures use CPI-U for January 1988.
January in other years
| Year | WTI average | vs January 1988 | Real |
|---|---|---|---|
| 2026 | $60.04 | +250.5% | $62.30 |
| 2025 | $75.74 | +342.1% | $80.47 |
| 2024 | $74.15 | +332.9% | $81.14 |
| 2023 | $78.12 | +356.0% | $88.13 |
| 2022 | $83.22 | +385.8% | $99.90 |
| 2021 | $52.00 | +203.6% | $67.09 |
| 2020 | $57.52 | +235.8% | $75.26 |
| 2019 | $51.38 | +199.9% | $68.89 |
| 2018 | $63.70 | +271.9% | $86.74 |
| 2017 | $52.50 | +206.5% | $72.97 |
| 2016 | $31.68 | +84.9% | $45.13 |
| 2015 | $47.22 | +175.7% | $68.19 |
| 2014 | $94.62 | +452.4% | $136.52 |
| 2013 | $94.76 | +453.2% | $138.89 |
| 2012 | $100.27 | +485.3% | $149.31 |
| 2011 | $89.17 | +420.5% | $136.66 |
| 2010 | $78.33 | +357.3% | $122.01 |
| 2009 | $41.71 | +143.5% | $66.67 |
| 2008 | $92.97 | +442.7% | $148.66 |
| 2007 | $54.51 | +218.2% | $90.89 |
| 2006 | $65.49 | +282.3% | $111.47 |
| 2005 | $46.84 | +173.4% | $82.90 |
| 2004 | $34.31 | +100.3% | $62.53 |
| 2003 | $32.95 | +92.4% | $61.21 |
| 2002 | $19.72 | +15.1% | $37.58 |
| 2001 | $29.59 | +72.7% | $57.04 |
| 2000 | $27.26 | +59.1% | $54.51 |
| 1999 | $12.52 | −26.9% | $25.72 |
| 1998 | $16.72 | −2.4% | $34.92 |
| 1997 | $25.13 | +46.7% | $53.31 |
| 1996 | $18.86 | +10.1% | $41.23 |
| 1995 | $18.04 | +5.3% | $40.51 |
| 1994 | $15.03 | −12.3% | $34.70 |
| 1993 | $19.03 | +11.1% | $45.04 |
| 1992 | $18.79 | +9.7% | $45.92 |
| 1991 | $25.23 | +47.3% | $63.26 |
| 1990 | $22.86 | +33.5% | $60.56 |
| 1989 | $18.02 | +5.2% | $50.22 |
| 1988 | $17.13 | — | $49.97 |
| 1987 | $18.65 | +8.9% | $56.61 |
| 1986 | $22.93 | +33.9% | $70.61 |
“—” 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 January 1988.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jan 4, 1988 – Jan 29, 1988 | Jan 29, 1988 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jan 4, 1988 – Jan 29, 1988 | Jan 29, 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)