Oil Prices in October 1988: WTI & Brent Daily Prices and Monthly Average
At $13.77 per barrel, October 1988's WTI average was the lowest monthly average in nominal terms since July 1986, down $0.77 (5.3%) from September 1988. The average was 31% below the $19.86 of October 1987.
Daily spot prices, October 1988
Chart data table (21 rows; WTI on 21, Brent on 21)
| Period | WTI | Brent |
|---|---|---|
| Oct 31, 1988 | $13.54 | $12.60 |
| Oct 28, 1988 | $13.79 | $12.60 |
| Oct 27, 1988 | $13.67 | $12.33 |
| Oct 26, 1988 | $13.45 | $12.08 |
| Oct 25, 1988 | $13.36 | $12.08 |
| Oct 24, 1988 | $12.94 | $12.20 |
| Oct 21, 1988 | $14.22 | $13.48 |
| Oct 20, 1988 | $14.44 | $13.50 |
| Oct 19, 1988 | $15.33 | $13.35 |
| Oct 18, 1988 | $14.63 | $12.90 |
| Oct 17, 1988 | $15.16 | $13.55 |
| Oct 14, 1988 | $14.90 | $13.20 |
| Oct 13, 1988 | $14.26 | $12.55 |
| Oct 12, 1988 | $14.02 | $12.45 |
| Oct 11, 1988 | $13.63 | $12.35 |
| Oct 10, 1988 | $13.59 | $12.20 |
| Oct 7, 1988 | $12.99 | $11.35 |
| Oct 6, 1988 | $12.62 | $11.30 |
| Oct 5, 1988 | $12.58 | $11.20 |
| Oct 4, 1988 | $13.03 | $11.65 |
| Oct 3, 1988 | $13.03 | $11.60 |
Prices dipped to $12.58 on Oct 5, 1988, then climbed to $15.33 on Oct 19, 1988 and ended at $13.54. The largest one-day move was −$1.28 on Oct 24, 1988 (−9.0%).
Brent averaged $12.41, on matched dates $1.36 below WTI on average across 21 dates.
Among the 41 October averages EIA has published, 1988's ranks the lowest. Within 1988 it ranks the lowest of the 12 monthly averages. WTI moved 5% or more from the previous published price on 2 days. In October 2026 dollars (CPI-U), the average equals $38.66 and the high of $15.33 equals $43.05.
October 1988 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $13.77 | $12.41 |
| Change vs September 1988 | −$0.77 | −$0.77 |
| Change vs October 1987 | −$6.09 | −$6.35 |
| Highest daily price | $15.33 Oct 19, 1988 | $13.55 Oct 17, 1988 |
| Lowest daily price | $12.58 Oct 5, 1988 | $11.20 Oct 5, 1988 |
| Published daily observations | 21 | 21 |
| Average in October 2026 dollars (CPI-U) | $38.66 | $34.85 |
Monthly averages are EIA's published figures. Real figures use CPI-U for October 1988.
October in other years
| Year | WTI average | vs October 1988 | Real |
|---|---|---|---|
| 2026 | $102.07 | +641.2% | $102.07 |
| 2025 | $60.89 | +342.2% | — |
| 2024 | $71.99 | +422.8% | $76.97 |
| 2023 | $85.64 | +521.9% | $93.95 |
| 2022 | $87.55 | +535.8% | $99.15 |
| 2021 | $81.48 | +491.7% | $99.43 |
| 2020 | $39.40 | +186.1% | $51.07 |
| 2019 | $53.96 | +291.9% | $70.77 |
| 2018 | $70.75 | +413.8% | $94.43 |
| 2017 | $51.58 | +274.6% | $70.58 |
| 2016 | $49.78 | +261.5% | $69.50 |
| 2015 | $46.22 | +235.7% | $65.59 |
| 2014 | $84.40 | +512.9% | $119.97 |
| 2013 | $100.54 | +630.1% | $145.30 |
| 2012 | $89.49 | +549.9% | $130.57 |
| 2011 | $86.32 | +526.9% | $128.67 |
| 2010 | $81.89 | +494.7% | $126.37 |
| 2009 | $75.72 | +449.9% | $118.22 |
| 2008 | $76.61 | +456.4% | $119.39 |
| 2007 | $85.80 | +523.1% | $138.60 |
| 2006 | $58.89 | +327.7% | $98.49 |
| 2005 | $62.26 | +352.1% | $105.49 |
| 2004 | $53.28 | +286.9% | $94.20 |
| 2003 | $30.34 | +120.3% | $55.35 |
| 2002 | $28.84 | +109.4% | $53.69 |
| 2001 | $22.17 | +61.0% | $42.11 |
| 2000 | $33.11 | +140.5% | $64.22 |
| 1999 | $22.69 | +64.8% | $45.53 |
| 1998 | $14.46 | +5.0% | $29.76 |
| 1997 | $21.33 | +54.9% | $44.55 |
| 1996 | $24.88 | +80.7% | $53.05 |
| 1995 | $17.43 | +26.6% | $38.27 |
| 1994 | $17.72 | +28.7% | $40.00 |
| 1993 | $18.15 | +31.8% | $42.04 |
| 1992 | $21.69 | +57.5% | $51.63 |
| 1991 | $23.23 | +68.7% | $57.06 |
| 1990 | $36.04 | +161.7% | $91.12 |
| 1989 | $20.10 | +46.0% | $54.01 |
| 1988 | $13.77 | — | $38.66 |
| 1987 | $19.86 | +44.2% | $58.14 |
| 1986 | $14.90 | +8.2% | $45.59 |
“—” 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 October 1988.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Oct 3, 1988 – Oct 31, 1988 | Oct 31, 1988 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Oct 3, 1988 – Oct 31, 1988 | Oct 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)