Oil Prices in September 1988: WTI & Brent Daily Prices and Monthly Average
At $14.54 per barrel, September 1988's WTI average was the lowest monthly average in nominal terms since July 1986, down $0.98 (6.3%) from August 1988. The average was 26% below the $19.53 of September 1987.
Daily spot prices, September 1988
Chart data table (22 rows; WTI on 22, Brent on 22)
| Period | WTI | Brent |
|---|---|---|
| Sep 30, 1988 | $13.33 | $11.93 |
| Sep 29, 1988 | $13.91 | $12.50 |
| Sep 28, 1988 | $14.07 | $12.75 |
| Sep 27, 1988 | $14.22 | $12.58 |
| Sep 26, 1988 | $14.16 | $13.10 |
| Sep 23, 1988 | $14.26 | $13.20 |
| Sep 22, 1988 | $15.25 | $13.20 |
| Sep 21, 1988 | $15.19 | $13.05 |
| Sep 20, 1988 | $15.08 | $13.15 |
| Sep 19, 1988 | $14.72 | $12.85 |
| Sep 16, 1988 | $14.50 | $13.23 |
| Sep 15, 1988 | $14.86 | $13.50 |
| Sep 14, 1988 | $15.38 | $13.90 |
| Sep 13, 1988 | $14.55 | $13.40 |
| Sep 12, 1988 | $14.48 | $12.70 |
| Sep 9, 1988 | $14.14 | $13.25 |
| Sep 8, 1988 | $14.51 | $13.30 |
| Sep 7, 1988 | $14.29 | $13.18 |
| Sep 6, 1988 | $14.25 | $13.35 |
| Sep 5, 1988 | $14.79 | $13.68 |
| Sep 2, 1988 | $14.79 | $14.00 |
| Sep 1, 1988 | $15.05 | $14.15 |
Prices fell over the month, from $15.05 on Sep 1, 1988 to $13.33 on Sep 30, 1988. The largest one-day move was −$0.99 on Sep 23, 1988 (−6.5%).
Brent averaged $13.18, on matched dates $1.36 below WTI on average across 22 dates.
Among the 41 September averages EIA has published, 1988's ranks the lowest. Within 1988 it ranks 3rd lowest of the 12 monthly averages. The high was $15.38 on Sep 14, 1988 and the low $13.33 on Sep 30, 1988. WTI moved 5% or more from the previous published price on 2 days. In October 2026 dollars (CPI-U), the average equals $40.96 and the high of $15.38 equals $43.33.
September 1988 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $14.54 | $13.18 |
| Change vs August 1988 | −$0.98 | −$1.71 |
| Change vs September 1987 | −$4.99 | −$5.13 |
| Highest daily price | $15.38 Sep 14, 1988 | $14.15 Sep 1, 1988 |
| Lowest daily price | $13.33 Sep 30, 1988 | $11.93 Sep 30, 1988 |
| Published daily observations | 22 | 22 |
| Average in October 2026 dollars (CPI-U) | $40.96 | $37.13 |
Monthly averages are EIA's published figures. Real figures use CPI-U for September 1988.
September in other years
| Year | WTI average | vs September 1988 | Real |
|---|---|---|---|
| 2026 | $97.31 | +569.3% | $97.47 |
| 2025 | $63.96 | +339.9% | $66.46 |
| 2024 | $70.24 | +383.1% | $75.19 |
| 2023 | $89.43 | +515.1% | $98.07 |
| 2022 | $84.26 | +479.5% | $95.82 |
| 2021 | $71.65 | +392.8% | $88.16 |
| 2020 | $39.63 | +172.6% | $51.39 |
| 2019 | $56.95 | +291.7% | $74.86 |
| 2018 | $70.23 | +383.0% | $93.90 |
| 2017 | $49.82 | +242.6% | $68.13 |
| 2016 | $45.18 | +210.7% | $63.16 |
| 2015 | $45.48 | +212.8% | $64.51 |
| 2014 | $93.21 | +541.1% | $132.17 |
| 2013 | $106.29 | +631.0% | $153.21 |
| 2012 | $94.51 | +550.0% | $137.84 |
| 2011 | $85.52 | +488.2% | $127.22 |
| 2010 | $75.24 | +417.5% | $116.25 |
| 2009 | $69.41 | +377.4% | $108.47 |
| 2008 | $104.11 | +616.0% | $160.61 |
| 2007 | $79.92 | +449.7% | $129.38 |
| 2006 | $63.80 | +338.8% | $106.13 |
| 2005 | $65.59 | +351.1% | $111.35 |
| 2004 | $45.94 | +216.0% | $81.65 |
| 2003 | $28.31 | +94.7% | $51.59 |
| 2002 | $29.66 | +104.0% | $55.31 |
| 2001 | $26.20 | +80.2% | $49.59 |
| 2000 | $33.88 | +133.0% | $65.83 |
| 1999 | $23.80 | +63.7% | $47.84 |
| 1998 | $15.03 | +3.4% | $31.01 |
| 1997 | $19.80 | +36.2% | $41.46 |
| 1996 | $23.97 | +64.9% | $51.27 |
| 1995 | $18.23 | +25.4% | $40.16 |
| 1994 | $17.45 | +20.0% | $39.42 |
| 1993 | $17.50 | +20.4% | $40.71 |
| 1992 | $21.88 | +50.5% | $52.26 |
| 1991 | $21.89 | +50.6% | $53.85 |
| 1990 | $33.51 | +130.5% | $85.23 |
| 1989 | $19.59 | +34.7% | $52.89 |
| 1988 | $14.54 | — | $40.96 |
| 1987 | $19.53 | +34.3% | $57.32 |
| 1986 | $14.87 | +2.3% | $45.54 |
“—” 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 September 1988.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Sep 1, 1988 – Sep 30, 1988 | Sep 30, 1988 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Sep 1, 1988 – Sep 30, 1988 | Sep 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)