Oil Prices in March 1988: WTI & Brent Daily Prices and Monthly Average
At $16.20 per barrel, March 1988's WTI average was the lowest monthly average in nominal terms since December 1986, down $0.60 (3.6%) from February 1988. A year earlier, in March 1987, it averaged $18.30, so the price was lower by $2.10 (11.5%) year over year.
Daily spot prices, March 1988
Chart data table (23 rows; WTI on 23, Brent on 23)
| Period | WTI | Brent |
|---|---|---|
| Mar 31, 1988 | $17.09 | $15.65 |
| Mar 30, 1988 | $17.06 | $15.70 |
| Mar 29, 1988 | $17.08 | $15.60 |
| Mar 28, 1988 | $17.05 | $15.55 |
| Mar 25, 1988 | $17.07 | $15.45 |
| Mar 24, 1988 | $16.73 | $15.65 |
| Mar 23, 1988 | $16.58 | $15.40 |
| Mar 22, 1988 | $16.02 | $15.03 |
| Mar 21, 1988 | $16.52 | $15.38 |
| Mar 18, 1988 | $16.61 | $14.93 |
| Mar 17, 1988 | $16.39 | $14.43 |
| Mar 16, 1988 | $16.03 | $14.45 |
| Mar 15, 1988 | $15.81 | $14.30 |
| Mar 14, 1988 | $15.57 | $14.28 |
| Mar 11, 1988 | $16.20 | $14.88 |
| Mar 10, 1988 | $16.04 | $14.48 |
| Mar 9, 1988 | $15.52 | $13.98 |
| Mar 8, 1988 | $15.58 | $13.80 |
| Mar 7, 1988 | $15.35 | $13.90 |
| Mar 4, 1988 | $15.63 | $14.00 |
| Mar 3, 1988 | $15.35 | $14.00 |
| Mar 2, 1988 | $15.69 | $13.80 |
| Mar 1, 1988 | $15.57 | $14.18 |
Prices rose over the month, from $15.57 on Mar 1, 1988 to $17.09 on Mar 31, 1988, with gains on 14 of 23 trading days.
Brent averaged $14.73, on matched dates $1.47 below WTI on average across 23 dates.
Among the 41 March averages EIA has published, 1988's ranks 5th lowest. Within 1988 it ranks 6th lowest of the 12 monthly averages. The high was $17.09 on Mar 31, 1988 and the low $15.35 on Mar 3, 1988. In October 2026 dollars (CPI-U), the average equals $46.93 and the high of $17.09 equals $49.51.
March 1988 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $16.20 | $14.73 |
| Change vs February 1988 | −$0.60 | −$1.00 |
| Change vs March 1987 | −$2.10 | — |
| Highest daily price | $17.09 Mar 31, 1988 | $15.70 Mar 30, 1988 |
| Lowest daily price | $15.35 Mar 3, 1988 | $13.80 Mar 2, 1988 |
| Published daily observations | 23 | 23 |
| Average in October 2026 dollars (CPI-U) | $46.93 | $42.67 |
Monthly averages are EIA's published figures. Real figures use CPI-U for March 1988.
March in other years
| Year | WTI average | vs March 1988 | Real |
|---|---|---|---|
| 2026 | $91.38 | +464.1% | $93.40 |
| 2025 | $68.24 | +321.2% | $72.02 |
| 2024 | $81.28 | +401.7% | $87.83 |
| 2023 | $73.28 | +352.3% | $81.94 |
| 2022 | $108.50 | +569.8% | $127.37 |
| 2021 | $62.33 | +284.8% | $79.42 |
| 2020 | $29.21 | +80.3% | $38.19 |
| 2019 | $58.15 | +259.0% | $77.21 |
| 2018 | $62.73 | +287.2% | $84.84 |
| 2017 | $49.33 | +204.5% | $68.29 |
| 2016 | $37.55 | +131.8% | $53.22 |
| 2015 | $47.82 | +195.2% | $68.35 |
| 2014 | $100.80 | +522.2% | $143.98 |
| 2013 | $92.94 | +473.7% | $134.76 |
| 2012 | $106.16 | +555.3% | $156.20 |
| 2011 | $102.86 | +534.9% | $155.35 |
| 2010 | $81.20 | +401.2% | $125.93 |
| 2009 | $47.94 | +195.9% | $76.07 |
| 2008 | $105.45 | +550.9% | $166.68 |
| 2007 | $60.44 | +273.1% | $99.34 |
| 2006 | $62.69 | +287.0% | $105.90 |
| 2005 | $54.19 | +234.5% | $94.62 |
| 2004 | $36.74 | +126.8% | $66.17 |
| 2003 | $33.51 | +106.9% | $61.40 |
| 2002 | $24.53 | +51.4% | $46.30 |
| 2001 | $27.25 | +68.2% | $52.20 |
| 2000 | $29.84 | +84.2% | $58.83 |
| 1999 | $14.68 | −9.4% | $30.03 |
| 1998 | $15.12 | −6.7% | $31.46 |
| 1997 | $20.97 | +29.4% | $44.24 |
| 1996 | $21.33 | +31.7% | $46.24 |
| 1995 | $18.54 | +14.4% | $41.33 |
| 1994 | $14.68 | −9.4% | $33.66 |
| 1993 | $20.32 | +25.4% | $47.76 |
| 1992 | $18.92 | +16.8% | $45.84 |
| 1991 | $19.90 | +22.8% | $49.75 |
| 1990 | $20.39 | +25.9% | $53.47 |
| 1989 | $19.48 | +20.2% | $53.76 |
| 1988 | $16.20 | — | $46.93 |
| 1987 | $18.30 | +13.0% | $55.10 |
| 1986 | $12.61 | −22.2% | $39.12 |
“—” 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 March 1988.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Mar 1, 1988 – Mar 31, 1988 | Mar 31, 1988 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Mar 1, 1988 – Mar 31, 1988 | Mar 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)