Oil Prices in November 1988: WTI & Brent Daily Prices and Monthly Average
WTI averaged $14.14 per barrel in November 1988, up $0.37 (2.7%) from October 1988. A year earlier, in November 1987, it averaged $18.85, so the price was lower by $4.71 (25.0%) year over year.
Daily spot prices, November 1988
Chart data table (22 rows; WTI on 22, Brent on 22)
| Period | WTI | Brent |
|---|---|---|
| Nov 30, 1988 | $15.42 | $14.35 |
| Nov 29, 1988 | $15.00 | $14.25 |
| Nov 28, 1988 | $14.93 | $14.73 |
| Nov 25, 1988 | $15.43 | $14.70 |
| Nov 24, 1988 | $14.11 | $12.98 |
| Nov 23, 1988 | $14.11 | $13.33 |
| Nov 22, 1988 | $14.78 | $13.35 |
| Nov 21, 1988 | $13.73 | $12.13 |
| Nov 18, 1988 | $13.47 | $12.08 |
| Nov 17, 1988 | $13.30 | $12.05 |
| Nov 16, 1988 | $13.68 | $12.70 |
| Nov 15, 1988 | $14.03 | $13.00 |
| Nov 14, 1988 | $14.25 | $13.00 |
| Nov 11, 1988 | $13.99 | $13.03 |
| Nov 10, 1988 | $13.99 | $13.03 |
| Nov 9, 1988 | $13.88 | $12.70 |
| Nov 8, 1988 | $13.70 | $12.60 |
| Nov 7, 1988 | $14.08 | $12.75 |
| Nov 4, 1988 | $14.04 | $12.75 |
| Nov 3, 1988 | $13.89 | $12.50 |
| Nov 2, 1988 | $13.78 | $12.35 |
| Nov 1, 1988 | $13.52 | $12.18 |
Prices rose over the month, from $13.52 on Nov 1, 1988 to $15.42 on Nov 30, 1988, with gains on 13 of 20 trading days. The largest one-day move was +$1.32 on Nov 25, 1988 (+9.4%).
Brent averaged $13.02, on matched dates $1.12 below WTI on average across 22 dates.
Among the 40 November averages EIA has published, 1988's ranks 2nd lowest. Within 1988 it ranks 2nd lowest of the 12 monthly averages. The high was $15.43 on Nov 25, 1988 and the low $13.30 on Nov 17, 1988. WTI moved 5% or more from the previous published price on 2 days. In October 2026 dollars (CPI-U), the average equals $39.67 and the high of $15.43 equals $43.29.
November 1988 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $14.14 | $13.02 |
| Change vs October 1988 | +$0.37 | +$0.61 |
| Change vs November 1987 | −$4.71 | −$4.76 |
| Highest daily price | $15.43 Nov 25, 1988 | $14.73 Nov 28, 1988 |
| Lowest daily price | $13.30 Nov 17, 1988 | $12.05 Nov 17, 1988 |
| Published daily observations | 22 | 22 |
| Average in October 2026 dollars (CPI-U) | $39.67 | $36.53 |
Monthly averages are EIA's published figures. Real figures use CPI-U for November 1988.
November in other years
| Year | WTI average | vs November 1988 | Real |
|---|---|---|---|
| 2026 (to date) | $99.85 | +606.2% | — |
| 2025 | $60.06 | +324.8% | $62.54 |
| 2024 | $69.95 | +394.7% | $74.83 |
| 2023 | $77.69 | +449.4% | $85.40 |
| 2022 | $84.37 | +496.7% | $95.65 |
| 2021 | $79.15 | +459.8% | $96.11 |
| 2020 | $40.94 | +189.5% | $53.10 |
| 2019 | $57.03 | +303.3% | $74.84 |
| 2018 | $56.96 | +302.8% | $76.28 |
| 2017 | $56.64 | +300.6% | $77.50 |
| 2016 | $45.66 | +222.9% | $63.85 |
| 2015 | $42.44 | +200.1% | $60.35 |
| 2014 | $75.79 | +436.0% | $108.32 |
| 2013 | $93.86 | +563.8% | $135.92 |
| 2012 | $86.53 | +512.0% | $126.86 |
| 2011 | $97.16 | +587.1% | $144.95 |
| 2010 | $84.25 | +495.8% | $129.96 |
| 2009 | $77.99 | +451.6% | $121.68 |
| 2008 | $57.31 | +305.3% | $91.06 |
| 2007 | $94.77 | +570.2% | $152.19 |
| 2006 | $59.08 | +317.8% | $98.96 |
| 2005 | $58.32 | +312.4% | $99.61 |
| 2004 | $48.47 | +242.8% | $85.65 |
| 2003 | $31.11 | +120.0% | $56.91 |
| 2002 | $26.35 | +86.4% | $49.05 |
| 2001 | $19.64 | +38.9% | $37.37 |
| 2000 | $34.42 | +143.4% | $66.73 |
| 1999 | $25.00 | +76.8% | $50.14 |
| 1998 | $13.00 | −8.1% | $26.75 |
| 1997 | $20.19 | +42.8% | $42.19 |
| 1996 | $23.71 | +67.7% | $50.46 |
| 1995 | $17.99 | +27.2% | $39.53 |
| 1994 | $18.07 | +27.8% | $40.74 |
| 1993 | $16.61 | +17.5% | $38.45 |
| 1992 | $20.34 | +43.8% | $48.34 |
| 1991 | $22.46 | +58.8% | $55.01 |
| 1990 | $32.33 | +128.6% | $81.55 |
| 1989 | $19.86 | +40.5% | $53.24 |
| 1988 | $14.14 | — | $39.67 |
| 1987 | $18.85 | +33.3% | $55.13 |
| 1986 | $15.22 | +7.6% | $46.53 |
“—” 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 November 1988.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Nov 1, 1988 – Nov 30, 1988 | Nov 30, 1988 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Nov 1, 1988 – Nov 30, 1988 | Nov 30, 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)