Oil Prices in May 1988: WTI & Brent Daily Prices and Monthly Average
WTI averaged $17.42 per barrel in May 1988, down $0.44 (2.5%) from April 1988. A year earlier, in May 1987, it averaged $19.44, so the price was lower by $2.02 (10.4%) year over year.
Daily spot prices, May 1988
Chart data table (22 rows; WTI on 22, Brent on 22)
| Period | WTI | Brent |
|---|---|---|
| May 31, 1988 | $17.54 | $16.20 |
| May 30, 1988 | $17.45 | $16.23 |
| May 27, 1988 | $17.45 | $16.25 |
| May 26, 1988 | $17.54 | $16.18 |
| May 25, 1988 | $17.39 | $16.18 |
| May 24, 1988 | $17.04 | $16.30 |
| May 23, 1988 | $17.01 | $16.23 |
| May 20, 1988 | $17.41 | $16.45 |
| May 19, 1988 | $17.43 | $16.25 |
| May 18, 1988 | $17.39 | $16.40 |
| May 17, 1988 | $17.72 | $16.60 |
| May 16, 1988 | $17.70 | $16.60 |
| May 13, 1988 | $17.53 | $16.50 |
| May 12, 1988 | $17.49 | $16.40 |
| May 11, 1988 | $17.48 | $16.48 |
| May 10, 1988 | $17.50 | $16.38 |
| May 9, 1988 | $17.56 | $16.50 |
| May 6, 1988 | $17.63 | $16.45 |
| May 5, 1988 | $17.41 | $16.15 |
| May 4, 1988 | $17.23 | $16.15 |
| May 3, 1988 | $17.30 | $16.08 |
| May 2, 1988 | $17.12 | $15.95 |
Daily prices stayed within $0.71, from $17.01 (May 23, 1988) to $17.72 (May 17, 1988). The largest one-day move was −$0.98 on May 2, 1988 (−5.4%).
Brent averaged $16.31, on matched dates $1.11 below WTI on average across 22 dates.
Among the 41 May averages EIA has published, 1988's ranks 3rd lowest. Within 1988 it ranks 2nd 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 $50.04 and the high of $17.72 equals $50.90.
May 1988 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $17.42 | $16.31 |
| Change vs April 1988 | −$0.44 | −$0.29 |
| Change vs May 1987 | −$2.02 | −$2.27 |
| Highest daily price | $17.72 May 17, 1988 | $16.60 May 16, 1988 |
| Lowest daily price | $17.01 May 23, 1988 | $15.95 May 2, 1988 |
| Published daily observations | 22 | 22 |
| Average in October 2026 dollars (CPI-U) | $50.04 | $46.85 |
Monthly averages are EIA's published figures. Real figures use CPI-U for May 1988.
May in other years
| Year | WTI average | vs May 1988 | Real |
|---|---|---|---|
| 2026 | $102.13 | +486.3% | $102.86 |
| 2025 | $62.17 | +256.9% | $65.27 |
| 2024 | $80.02 | +359.4% | $85.99 |
| 2023 | $71.58 | +310.9% | $79.44 |
| 2022 | $109.55 | +528.9% | $126.50 |
| 2021 | $65.17 | +274.1% | $81.71 |
| 2020 | $28.56 | +63.9% | $37.60 |
| 2019 | $60.83 | +249.2% | $80.17 |
| 2018 | $69.98 | +301.7% | $93.88 |
| 2017 | $48.48 | +178.3% | $66.86 |
| 2016 | $46.71 | +168.1% | $65.63 |
| 2015 | $59.27 | +240.2% | $84.12 |
| 2014 | $102.18 | +486.6% | $144.96 |
| 2013 | $94.51 | +442.5% | $136.93 |
| 2012 | $94.66 | +443.4% | $139.02 |
| 2011 | $100.90 | +479.2% | $150.71 |
| 2010 | $73.74 | +323.3% | $114.07 |
| 2009 | $59.03 | +238.9% | $93.16 |
| 2008 | $125.40 | +619.9% | $195.37 |
| 2007 | $63.46 | +264.3% | $103.00 |
| 2006 | $70.84 | +306.7% | $118.07 |
| 2005 | $49.83 | +186.1% | $86.51 |
| 2004 | $40.28 | +131.2% | $71.89 |
| 2003 | $28.11 | +61.4% | $51.70 |
| 2002 | $27.04 | +55.2% | $50.76 |
| 2001 | $28.63 | +64.4% | $54.38 |
| 2000 | $28.79 | +65.3% | $56.66 |
| 1999 | $17.72 | +1.7% | $35.98 |
| 1998 | $14.91 | −14.4% | $30.91 |
| 1997 | $20.82 | +19.5% | $43.89 |
| 1996 | $21.17 | +21.5% | $45.63 |
| 1995 | $19.74 | +13.3% | $43.77 |
| 1994 | $17.89 | +2.7% | $40.94 |
| 1993 | $19.95 | +14.5% | $46.69 |
| 1992 | $20.98 | +20.4% | $50.69 |
| 1991 | $21.23 | +21.9% | $52.84 |
| 1990 | $18.20 | +4.5% | $47.54 |
| 1989 | $20.12 | +15.5% | $54.85 |
| 1988 | $17.42 | — | $50.04 |
| 1987 | $19.44 | +11.6% | $58.01 |
| 1986 | $15.38 | −11.7% | $47.67 |
“—” 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 May 1988.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | May 2, 1988 – May 31, 1988 | May 31, 1988 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | May 2, 1988 – May 31, 1988 | May 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)