Oil Prices in March 1994: WTI & Brent Daily Prices and Monthly Average
WTI averaged $14.68 per barrel in March 1994, little changed from February 1994 ($14.78). The average was 28% below the $20.32 of March 1993.
Daily spot prices, March 1994
Chart data table (23 rows; WTI on 23, Brent on 23)
| Period | WTI | Brent |
|---|---|---|
| Mar 31, 1994 | $14.78 | $13.25 |
| Mar 30, 1994 | $14.40 | $13.23 |
| Mar 29, 1994 | $14.41 | $13.38 |
| Mar 28, 1994 | $14.15 | $13.75 |
| Mar 25, 1994 | $15.19 | $14.58 |
| Mar 24, 1994 | $15.21 | $14.53 |
| Mar 23, 1994 | $14.94 | $14.50 |
| Mar 22, 1994 | $15.04 | $14.80 |
| Mar 21, 1994 | $15.37 | $14.55 |
| Mar 18, 1994 | $14.88 | $14.05 |
| Mar 17, 1994 | $14.83 | $14.25 |
| Mar 16, 1994 | $15.03 | $14.30 |
| Mar 15, 1994 | $14.82 | $14.28 |
| Mar 14, 1994 | $14.52 | $14.03 |
| Mar 11, 1994 | $14.47 | $13.70 |
| Mar 10, 1994 | $14.19 | $13.23 |
| Mar 9, 1994 | $14.23 | $13.30 |
| Mar 8, 1994 | $14.17 | $13.15 |
| Mar 7, 1994 | $14.14 | $13.13 |
| Mar 4, 1994 | $14.57 | $13.43 |
| Mar 3, 1994 | $14.74 | $13.55 |
| Mar 2, 1994 | $14.80 | $13.50 |
| Mar 1, 1994 | $14.78 | $13.45 |
Prices dipped to $14.14 on Mar 7, 1994, then climbed to $15.37 on Mar 21, 1994 and ended at $14.78. The largest one-day move was −$1.04 on Mar 28, 1994 (−6.8%).
Brent averaged $13.82, within a dollar of WTI on average across the 23 dates when both were published.
Among the 41 March averages EIA has published, 1994's ranks 3rd lowest, tied with 1999. Within 1994 it ranks the 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 $33.66 and the high of $15.37 equals $35.24.
March 1994 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $14.68 | $13.82 |
| Change vs February 1994 | −$0.10 | +$0.02 |
| Change vs March 1993 | −$5.64 | −$4.97 |
| Highest daily price | $15.37 Mar 21, 1994 | $14.80 Mar 22, 1994 |
| Lowest daily price | $14.14 Mar 7, 1994 | $13.13 Mar 7, 1994 |
| Published daily observations | 23 | 23 |
| Average in October 2026 dollars (CPI-U) | $33.66 | $31.69 |
Monthly averages are EIA's published figures. Real figures use CPI-U for March 1994.
March in other years
| Year | WTI average | vs March 1994 | Real |
|---|---|---|---|
| 2026 | $91.38 | +522.5% | $93.40 |
| 2025 | $68.24 | +364.9% | $72.02 |
| 2024 | $81.28 | +453.7% | $87.83 |
| 2023 | $73.28 | +399.2% | $81.94 |
| 2022 | $108.50 | +639.1% | $127.37 |
| 2021 | $62.33 | +324.6% | $79.42 |
| 2020 | $29.21 | +99.0% | $38.19 |
| 2019 | $58.15 | +296.1% | $77.21 |
| 2018 | $62.73 | +327.3% | $84.84 |
| 2017 | $49.33 | +236.0% | $68.29 |
| 2016 | $37.55 | +155.8% | $53.22 |
| 2015 | $47.82 | +225.7% | $68.35 |
| 2014 | $100.80 | +586.6% | $143.98 |
| 2013 | $92.94 | +533.1% | $134.76 |
| 2012 | $106.16 | +623.2% | $156.20 |
| 2011 | $102.86 | +600.7% | $155.35 |
| 2010 | $81.20 | +453.1% | $125.93 |
| 2009 | $47.94 | +226.6% | $76.07 |
| 2008 | $105.45 | +618.3% | $166.68 |
| 2007 | $60.44 | +311.7% | $99.34 |
| 2006 | $62.69 | +327.0% | $105.90 |
| 2005 | $54.19 | +269.1% | $94.62 |
| 2004 | $36.74 | +150.3% | $66.17 |
| 2003 | $33.51 | +128.3% | $61.40 |
| 2002 | $24.53 | +67.1% | $46.30 |
| 2001 | $27.25 | +85.6% | $52.20 |
| 2000 | $29.84 | +103.3% | $58.83 |
| 1999 | $14.68 | 0.0% | $30.03 |
| 1998 | $15.12 | +3.0% | $31.46 |
| 1997 | $20.97 | +42.8% | $44.24 |
| 1996 | $21.33 | +45.3% | $46.24 |
| 1995 | $18.54 | +26.3% | $41.33 |
| 1994 | $14.68 | — | $33.66 |
| 1993 | $20.32 | +38.4% | $47.76 |
| 1992 | $18.92 | +28.9% | $45.84 |
| 1991 | $19.90 | +35.6% | $49.75 |
| 1990 | $20.39 | +38.9% | $53.47 |
| 1989 | $19.48 | +32.7% | $53.76 |
| 1988 | $16.20 | +10.4% | $46.93 |
| 1987 | $18.30 | +24.7% | $55.10 |
| 1986 | $12.61 | −14.1% | $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 1994.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Mar 1, 1994 – Mar 31, 1994 | Mar 31, 1994 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Mar 1, 1994 – Mar 31, 1994 | Mar 31, 1994 |
| 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:1994 daily prices (CSV)