Oil Prices in January 1989: WTI & Brent Daily Prices and Monthly Average
WTI's monthly average rose to $18.02 in January 1989, up $1.64 (10.0%) from December 1988, the highest monthly average in nominal terms since November 1987. A year earlier, in January 1988, it averaged $17.13, so the price was higher by $0.89 (5.2%) year over year.
Daily spot prices, January 1989
Chart data table (21 rows; WTI on 21, Brent on 21)
| Period | WTI | Brent |
|---|---|---|
| Jan 31, 1989 | $17.00 | $16.38 |
| Jan 30, 1989 | $17.32 | $16.85 |
| Jan 27, 1989 | $17.74 | $17.18 |
| Jan 26, 1989 | $17.68 | $17.73 |
| Jan 25, 1989 | $18.23 | $17.70 |
| Jan 24, 1989 | $17.96 | $17.05 |
| Jan 23, 1989 | $17.66 | $16.98 |
| Jan 20, 1989 | $18.85 | $18.15 |
| Jan 19, 1989 | $19.28 | $18.10 |
| Jan 18, 1989 | $19.20 | $17.95 |
| Jan 17, 1989 | $19.03 | $17.78 |
| Jan 16, 1989 | $18.88 | $17.50 |
| Jan 13, 1989 | $18.49 | $17.40 |
| Jan 12, 1989 | $18.11 | $16.85 |
| Jan 11, 1989 | $18.16 | $16.90 |
| Jan 10, 1989 | $17.80 | $16.75 |
| Jan 9, 1989 | $17.74 | $17.00 |
| Jan 6, 1989 | $17.56 | $16.85 |
| Jan 5, 1989 | $17.45 | $16.58 |
| Jan 4, 1989 | $16.99 | $16.53 |
| Jan 3, 1989 | $17.38 | $16.40 |
Prices dipped to $16.99 on Jan 4, 1989, then climbed to $19.28 on Jan 19, 1989 and ended at $17.00. The largest one-day move was −$1.19 on Jan 23, 1989 (−6.3%).
Brent averaged $17.17, within a dollar of WTI on average across the 21 dates when both were published.
Among the 41 January averages EIA has published, 1989's ranks 5th lowest. Within 1989 it ranks 2nd lowest 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 $50.22 and the high of $19.28 equals $53.73.
January 1989 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $18.02 | $17.17 |
| Change vs December 1988 | +$1.64 | +$1.86 |
| Change vs January 1988 | +$0.89 | +$0.42 |
| Highest daily price | $19.28 Jan 19, 1989 | $18.15 Jan 20, 1989 |
| Lowest daily price | $16.99 Jan 4, 1989 | $16.38 Jan 31, 1989 |
| Published daily observations | 21 | 21 |
| Average in October 2026 dollars (CPI-U) | $50.22 | $47.85 |
Monthly averages are EIA's published figures. Real figures use CPI-U for January 1989.
January in other years
| Year | WTI average | vs January 1989 | Real |
|---|---|---|---|
| 2026 | $60.04 | +233.2% | $62.30 |
| 2025 | $75.74 | +320.3% | $80.47 |
| 2024 | $74.15 | +311.5% | $81.14 |
| 2023 | $78.12 | +333.5% | $88.13 |
| 2022 | $83.22 | +361.8% | $99.90 |
| 2021 | $52.00 | +188.6% | $67.09 |
| 2020 | $57.52 | +219.2% | $75.26 |
| 2019 | $51.38 | +185.1% | $68.89 |
| 2018 | $63.70 | +253.5% | $86.74 |
| 2017 | $52.50 | +191.3% | $72.97 |
| 2016 | $31.68 | +75.8% | $45.13 |
| 2015 | $47.22 | +162.0% | $68.19 |
| 2014 | $94.62 | +425.1% | $136.52 |
| 2013 | $94.76 | +425.9% | $138.89 |
| 2012 | $100.27 | +456.4% | $149.31 |
| 2011 | $89.17 | +394.8% | $136.66 |
| 2010 | $78.33 | +334.7% | $122.01 |
| 2009 | $41.71 | +131.5% | $66.67 |
| 2008 | $92.97 | +415.9% | $148.66 |
| 2007 | $54.51 | +202.5% | $90.89 |
| 2006 | $65.49 | +263.4% | $111.47 |
| 2005 | $46.84 | +159.9% | $82.90 |
| 2004 | $34.31 | +90.4% | $62.53 |
| 2003 | $32.95 | +82.9% | $61.21 |
| 2002 | $19.72 | +9.4% | $37.58 |
| 2001 | $29.59 | +64.2% | $57.04 |
| 2000 | $27.26 | +51.3% | $54.51 |
| 1999 | $12.52 | −30.5% | $25.72 |
| 1998 | $16.72 | −7.2% | $34.92 |
| 1997 | $25.13 | +39.5% | $53.31 |
| 1996 | $18.86 | +4.7% | $41.23 |
| 1995 | $18.04 | +0.1% | $40.51 |
| 1994 | $15.03 | −16.6% | $34.70 |
| 1993 | $19.03 | +5.6% | $45.04 |
| 1992 | $18.79 | +4.3% | $45.92 |
| 1991 | $25.23 | +40.0% | $63.26 |
| 1990 | $22.86 | +26.9% | $60.56 |
| 1989 | $18.02 | — | $50.22 |
| 1988 | $17.13 | −4.9% | $49.97 |
| 1987 | $18.65 | +3.5% | $56.61 |
| 1986 | $22.93 | +27.2% | $70.61 |
“—” 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 January 1989.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jan 3, 1989 – Jan 31, 1989 | Jan 31, 1989 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jan 3, 1989 – Jan 31, 1989 | Jan 31, 1989 |
| 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:1989 daily prices (CSV)