Oil Prices in March 1989: WTI & Brent Daily Prices and Monthly Average
At $19.48 per barrel, March 1989's WTI average was the highest monthly average in nominal terms since October 1987, up $1.54 (8.6%) from February 1989. A year earlier, in March 1988, it averaged $16.20, so the price was higher by $3.28 (20.2%) year over year.
Daily spot prices, March 1989
Chart data table (22 rows; WTI on 22, Brent on 21)
| Period | WTI | Brent |
|---|---|---|
| Mar 31, 1989 | $20.27 | $20.45 |
| Mar 30, 1989 | $21.03 | $20.00 |
| Mar 29, 1989 | $20.20 | $19.45 |
| Mar 28, 1989 | $19.93 | $19.73 |
| Mar 27, 1989 | $20.55 | — |
| Mar 23, 1989 | $20.16 | $19.93 |
| Mar 22, 1989 | $20.21 | $19.60 |
| Mar 21, 1989 | $20.08 | $19.63 |
| Mar 20, 1989 | $19.53 | $19.18 |
| Mar 17, 1989 | $20.34 | $19.30 |
| Mar 16, 1989 | $19.86 | $18.95 |
| Mar 15, 1989 | $19.84 | $19.08 |
| Mar 14, 1989 | $19.47 | $18.63 |
| Mar 13, 1989 | $19.05 | $18.10 |
| Mar 10, 1989 | $18.53 | $17.63 |
| Mar 9, 1989 | $18.53 | $17.80 |
| Mar 8, 1989 | $18.57 | $17.55 |
| Mar 7, 1989 | $18.12 | $17.55 |
| Mar 6, 1989 | $18.73 | $17.73 |
| Mar 3, 1989 | $18.67 | $17.73 |
| Mar 2, 1989 | $18.68 | $17.45 |
| Mar 1, 1989 | $18.30 | $17.25 |
Prices rose over the month, from $18.30 on Mar 1, 1989 to $20.27 on Mar 31, 1989, with gains on 14 of 21 trading days. The largest one-day move was +$0.83 on Mar 30, 1989 (+4.1%).
Brent averaged $18.70, within a dollar of WTI on average across the 21 dates when both were published.
Among the 41 March averages EIA has published, 1989's ranks 9th lowest. Within 1989 it ranks 4th lowest of the 12 monthly averages. The high was $21.03 on Mar 30, 1989 and the low $18.12 on Mar 7, 1989. In October 2026 dollars (CPI-U), the average equals $53.76 and the high of $21.03 equals $58.04.
March 1989 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $19.48 | $18.70 |
| Change vs February 1989 | +$1.54 | +$1.81 |
| Change vs March 1988 | +$3.28 | +$3.97 |
| Highest daily price | $21.03 Mar 30, 1989 | $20.45 Mar 31, 1989 |
| Lowest daily price | $18.12 Mar 7, 1989 | $17.25 Mar 1, 1989 |
| Published daily observations | 22 | 21 |
| Average in October 2026 dollars (CPI-U) | $53.76 | $51.61 |
Monthly averages are EIA's published figures. Real figures use CPI-U for March 1989.
March in other years
| Year | WTI average | vs March 1989 | Real |
|---|---|---|---|
| 2026 | $91.38 | +369.1% | $93.40 |
| 2025 | $68.24 | +250.3% | $72.02 |
| 2024 | $81.28 | +317.2% | $87.83 |
| 2023 | $73.28 | +276.2% | $81.94 |
| 2022 | $108.50 | +457.0% | $127.37 |
| 2021 | $62.33 | +220.0% | $79.42 |
| 2020 | $29.21 | +49.9% | $38.19 |
| 2019 | $58.15 | +198.5% | $77.21 |
| 2018 | $62.73 | +222.0% | $84.84 |
| 2017 | $49.33 | +153.2% | $68.29 |
| 2016 | $37.55 | +92.8% | $53.22 |
| 2015 | $47.82 | +145.5% | $68.35 |
| 2014 | $100.80 | +417.5% | $143.98 |
| 2013 | $92.94 | +377.1% | $134.76 |
| 2012 | $106.16 | +445.0% | $156.20 |
| 2011 | $102.86 | +428.0% | $155.35 |
| 2010 | $81.20 | +316.8% | $125.93 |
| 2009 | $47.94 | +146.1% | $76.07 |
| 2008 | $105.45 | +441.3% | $166.68 |
| 2007 | $60.44 | +210.3% | $99.34 |
| 2006 | $62.69 | +221.8% | $105.90 |
| 2005 | $54.19 | +178.2% | $94.62 |
| 2004 | $36.74 | +88.6% | $66.17 |
| 2003 | $33.51 | +72.0% | $61.40 |
| 2002 | $24.53 | +25.9% | $46.30 |
| 2001 | $27.25 | +39.9% | $52.20 |
| 2000 | $29.84 | +53.2% | $58.83 |
| 1999 | $14.68 | −24.6% | $30.03 |
| 1998 | $15.12 | −22.4% | $31.46 |
| 1997 | $20.97 | +7.6% | $44.24 |
| 1996 | $21.33 | +9.5% | $46.24 |
| 1995 | $18.54 | −4.8% | $41.33 |
| 1994 | $14.68 | −24.6% | $33.66 |
| 1993 | $20.32 | +4.3% | $47.76 |
| 1992 | $18.92 | −2.9% | $45.84 |
| 1991 | $19.90 | +2.2% | $49.75 |
| 1990 | $20.39 | +4.7% | $53.47 |
| 1989 | $19.48 | — | $53.76 |
| 1988 | $16.20 | −16.8% | $46.93 |
| 1987 | $18.30 | −6.1% | $55.10 |
| 1986 | $12.61 | −35.3% | $39.12 |
“—” 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 March 1989.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Mar 1, 1989 – Mar 31, 1989 | Mar 31, 1989 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Mar 1, 1989 – Mar 31, 1989 | Mar 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)