Oil Prices in May 1989: WTI & Brent Daily Prices and Monthly Average
WTI averaged $20.12 per barrel in May 1989, down $0.95 (4.5%) from April 1989. A year earlier, in May 1988, it averaged $17.42, so the price was higher by $2.70 (15.5%) year over year.
Daily spot prices, May 1989
Chart data table (23 rows; WTI on 23, Brent on 22)
| Period | WTI | Brent |
|---|---|---|
| May 31, 1989 | $19.93 | $18.25 |
| May 30, 1989 | $19.96 | $18.03 |
| May 29, 1989 | $19.55 | $17.73 |
| May 26, 1989 | $19.55 | $17.65 |
| May 25, 1989 | $19.46 | $18.20 |
| May 24, 1989 | $19.68 | $18.15 |
| May 23, 1989 | $21.77 | $17.70 |
| May 22, 1989 | $20.92 | $17.40 |
| May 19, 1989 | $20.58 | $18.30 |
| May 18, 1989 | $20.25 | $18.60 |
| May 17, 1989 | $20.15 | $18.58 |
| May 16, 1989 | $20.58 | $19.80 |
| May 15, 1989 | $20.53 | $19.20 |
| May 12, 1989 | $20.12 | $19.20 |
| May 11, 1989 | $20.13 | $19.30 |
| May 10, 1989 | $19.56 | $18.88 |
| May 9, 1989 | $19.54 | $19.03 |
| May 8, 1989 | $19.41 | $18.80 |
| May 5, 1989 | $20.08 | $19.40 |
| May 4, 1989 | $20.57 | $19.70 |
| May 3, 1989 | $20.13 | $18.88 |
| May 2, 1989 | $19.73 | $19.15 |
| May 1, 1989 | $20.66 | — |
Prices dipped to $19.41 on May 8, 1989, then climbed to $21.77 on May 23, 1989 and ended at $19.93. The largest one-day move was −$2.09 on May 24, 1989 (−9.6%).
Brent averaged $18.63, on matched dates $1.47 below WTI on average across 22 dates.
Among the 41 May averages EIA has published, 1989's ranks 10th lowest. Within 1989 it ranks 3rd highest 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 $54.85 and the high of $21.77 equals $59.35.
May 1989 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $20.12 | $18.63 |
| Change vs April 1989 | −$0.95 | −$1.69 |
| Change vs May 1988 | +$2.70 | +$2.32 |
| Highest daily price | $21.77 May 23, 1989 | $19.80 May 16, 1989 |
| Lowest daily price | $19.41 May 8, 1989 | $17.40 May 22, 1989 |
| Published daily observations | 23 | 22 |
| Average in October 2026 dollars (CPI-U) | $54.85 | $50.79 |
Monthly averages are EIA's published figures. Real figures use CPI-U for May 1989.
May in other years
| Year | WTI average | vs May 1989 | Real |
|---|---|---|---|
| 2026 | $102.13 | +407.6% | $102.86 |
| 2025 | $62.17 | +209.0% | $65.27 |
| 2024 | $80.02 | +297.7% | $85.99 |
| 2023 | $71.58 | +255.8% | $79.44 |
| 2022 | $109.55 | +444.5% | $126.50 |
| 2021 | $65.17 | +223.9% | $81.71 |
| 2020 | $28.56 | +41.9% | $37.60 |
| 2019 | $60.83 | +202.3% | $80.17 |
| 2018 | $69.98 | +247.8% | $93.88 |
| 2017 | $48.48 | +141.0% | $66.86 |
| 2016 | $46.71 | +132.2% | $65.63 |
| 2015 | $59.27 | +194.6% | $84.12 |
| 2014 | $102.18 | +407.9% | $144.96 |
| 2013 | $94.51 | +369.7% | $136.93 |
| 2012 | $94.66 | +370.5% | $139.02 |
| 2011 | $100.90 | +401.5% | $150.71 |
| 2010 | $73.74 | +266.5% | $114.07 |
| 2009 | $59.03 | +193.4% | $93.16 |
| 2008 | $125.40 | +523.3% | $195.37 |
| 2007 | $63.46 | +215.4% | $103.00 |
| 2006 | $70.84 | +252.1% | $118.07 |
| 2005 | $49.83 | +147.7% | $86.51 |
| 2004 | $40.28 | +100.2% | $71.89 |
| 2003 | $28.11 | +39.7% | $51.70 |
| 2002 | $27.04 | +34.4% | $50.76 |
| 2001 | $28.63 | +42.3% | $54.38 |
| 2000 | $28.79 | +43.1% | $56.66 |
| 1999 | $17.72 | −11.9% | $35.98 |
| 1998 | $14.91 | −25.9% | $30.91 |
| 1997 | $20.82 | +3.5% | $43.89 |
| 1996 | $21.17 | +5.2% | $45.63 |
| 1995 | $19.74 | −1.9% | $43.77 |
| 1994 | $17.89 | −11.1% | $40.94 |
| 1993 | $19.95 | −0.8% | $46.69 |
| 1992 | $20.98 | +4.3% | $50.69 |
| 1991 | $21.23 | +5.5% | $52.84 |
| 1990 | $18.20 | −9.5% | $47.54 |
| 1989 | $20.12 | — | $54.85 |
| 1988 | $17.42 | −13.4% | $50.04 |
| 1987 | $19.44 | −3.4% | $58.01 |
| 1986 | $15.38 | −23.6% | $47.67 |
“—” 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 May 1989.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | May 1, 1989 – May 31, 1989 | May 31, 1989 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | May 2, 1989 – May 31, 1989 | May 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)