Oil Prices in August 2002: WTI & Brent Daily Prices and Monthly Average
At $28.39 per barrel, August 2002's WTI average was the highest monthly average in nominal terms since May 2001, up $1.42 (5.3%) from July 2002. A year earlier, in August 2001, it averaged $27.37, so the price was higher by $1.02 (3.7%) year over year.
Daily spot prices, August 2002
Chart data table (22 rows)
| Period | WTI | Brent |
|---|---|---|
| Aug 30, 2002 | $28.97 | $27.56 |
| Aug 29, 2002 | $28.83 | $27.11 |
| Aug 28, 2002 | $28.31 | $27.54 |
| Aug 27, 2002 | $28.84 | $27.89 |
| Aug 26, 2002 | $29.23 | $27.56 |
| Aug 23, 2002 | $29.99 | $27.51 |
| Aug 22, 2002 | $30.11 | $27.81 |
| Aug 21, 2002 | $30.37 | $27.53 |
| Aug 20, 2002 | $30.12 | $27.63 |
| Aug 19, 2002 | $29.86 | $27.44 |
| Aug 16, 2002 | $29.24 | $27.33 |
| Aug 15, 2002 | $28.99 | $26.66 |
| Aug 14, 2002 | $28.19 | $26.47 |
| Aug 13, 2002 | $28.35 | $26.11 |
| Aug 12, 2002 | $27.84 | $25.63 |
| Aug 9, 2002 | $26.87 | $25.49 |
| Aug 8, 2002 | $26.67 | $25.51 |
| Aug 7, 2002 | $26.58 | $25.70 |
| Aug 6, 2002 | $27.18 | $25.69 |
| Aug 5, 2002 | $26.55 | $25.20 |
| Aug 2, 2002 | $26.87 | $25.17 |
| Aug 1, 2002 | $26.51 | $25.79 |
The month's range ran from $26.51 on Aug 1, 2002 to $30.37 on Aug 21, 2002; the last price was $28.97 on Aug 30, 2002.
Brent traded below WTI on average this month: $26.65 for the month, $1.73 under WTI across 22 matched dates.
Adjusted with CPI-U, the August 2002 average equals $52.94 in September 2026 dollars.
August 2002 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $28.39 | $26.65 |
| Change vs July 2002 | +$1.42 | +$0.91 |
| Change vs August 2001 | +$1.02 | +$0.97 |
| Highest daily price | $30.37 Aug 21, 2002 | $27.89 Aug 27, 2002 |
| Lowest daily price | $26.51 Aug 1, 2002 | $25.17 Aug 2, 2002 |
| Published daily observations | 22 | 22 |
| Average in September 2026 dollars (CPI-U) | $52.94 | $49.69 |
Monthly averages are EIA's published figures. Real figures use CPI-U for August 2002.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Aug 1, 2002 – Aug 30, 2002 | Aug 30, 2002 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Aug 1, 2002 – Aug 30, 2002 | Aug 30, 2002 |
| U.S. Bureau of Labor Statistics | CUUR0000SA0 — CPI-U, all items, NSA | index, 1982–84=100 | monthly | September 2026 |
Last updated: Oct 21, 2026, 5:27 PM CDT. Raw values are shown in source units; any conversion is labeled. See methodology and data sources.
Download:2002 daily prices (CSV)