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Oil Prices in 2008: WTI & Brent History and Monthly Averages

WTI average
$99.67
EIA annual average
WTI vs prior year
+37.8%
2007: $72.34
Brent average
$96.94
EIA annual average
Brent vs prior year
+33.8%
2007: $72.44

2008 holds the highest daily WTI spot price in EIA's records, $145.31 on Jul 3, 2008. Brent's record high was set the same year: $143.95 on Jul 3, 2008. WTI averaged $99.67 per barrel in 2008, up $27.33 (37.8%) from 2007; that was the highest annual average since EIA's WTI series began in 1986, and the 7th consecutive annual increase.

Monthly average prices in 2008

Monthly averages and daily ranges, 2008 ($/bbl)
MonthWTI avgWTI highWTI lowBrent avgBrent − WTI (matched dates)WTI (September 2026 $)Brent (September 2026 $)
January$92.97$99.64$87.65$92.18−$0.79$148.40$147.14
February$95.39$102.60$87.16$94.99−$0.40$151.83$151.19
March$105.45$110.21$99.72$103.64−$1.82$166.40$163.54
April$112.58$119.64$100.92$109.07−$3.51$176.58$171.07
May$125.40$132.99$112.60$122.80−$2.60$195.04$191.00
June$133.88$139.96$122.30$132.32−$1.56$206.15$203.75
July$133.37$145.31$122.21$132.72−$0.65$204.30$203.30
August$116.67$125.03$112.92$113.24−$3.42$179.43$174.16
September$104.11$122.61$91.49$97.23−$6.88$160.34$149.74
October$76.61$98.23$61.92$71.58−$5.03$119.19$111.36
November$57.31$70.41$48.86$52.45−$4.86$90.90$83.19
December$41.12$49.34$30.28$39.95−$1.17$65.90$64.03

Monthly averages are EIA's published figures. Brent − WTI is the average over dates with both prices published, so it can differ from the difference between the two monthly averages. Inflation-adjusted columns use CPI-U for each month, expressed in September 2026 dollars; “—” means CPI-U for that month is not available.

Although the annual average rose, prices ended the year lower than they started: $99.64 on Jan 2, 2008 against $44.60 on Dec 31, 2008. The steepest fall within the year ran from $145.31 on Jul 3, 2008 to $30.28 on Dec 23, 2008, a 79% drop. The price moved by 5% or more in a single day 39 times. From $87.16 on Feb 6, 2008, WTI climbed to $145.31 by Jul 3, 2008, a 67% gain.

Brent traded below WTI throughout 2008: its monthly average was lower in every month, and on the 253 matched dates it averaged $2.73 less. Brent averaged $96.94, up $24.50 (33.8%) from 2007.

Monthly averages peaked early, at $133.88 in June, and bottomed at $41.12 in December. In September 2026 dollars (CPI-U), the 2008 average is $155.98, higher than 2025's real average by $87.54 (127.9%). The 2000s as a whole averaged $51.10, so 2008 ran above its decade. Of 40 complete years with an EIA annual average, 2008 ranks highest.

2008 summary statistics

MeasureWTIBrentBrent − WTI
Average$99.67$96.94−$2.73
Change vs 2007 average+$27.33+$24.50−$2.88
Highest daily price$145.31 Jul 3, 2008$143.95 Jul 3, 2008—
Lowest daily price$30.28 Dec 23, 2008$33.73 Dec 26, 2008—
Highest daily spread——+$6.98 Dec 22, 2008
Lowest daily spread——−$22.18 Sep 22, 2008
First observation$99.64 Jan 2, 2008$97.01 Jan 2, 2008—
Last observation$44.60 Dec 31, 2008$35.82 Dec 31, 2008—
Published daily observations253253253 matched
Average in September 2026 dollars$155.98$151.71—

Daily spot prices in 2008

Show all 253 dates (Jan 2, 2008 – Dec 31, 2008)
DateWTIBrentBrent − WTI
Jan 2, 2008$99.64$97.01−$2.63
Jan 3, 2008$99.17$98.45−$0.72
Jan 4, 2008$97.90$96.87−$1.03
Jan 7, 2008$95.08$94.19−$0.89
Jan 8, 2008$96.43$96.37−$0.06
Jan 9, 2008$95.64$96.76+$1.12
Jan 10, 2008$93.92$92.80−$1.12
Jan 11, 2008$92.74$91.86−$0.88
Jan 14, 2008$94.23$92.58−$1.65
Jan 15, 2008$91.87$90.87−$1.00
Jan 16, 2008$90.80$88.10−$2.70
Jan 17, 2008$90.11$88.96−$1.15
Jan 18, 2008$90.55$89.66−$0.89
Jan 22, 2008$89.64$88.11−$1.53
Jan 23, 2008$87.65$87.06−$0.59
Jan 24, 2008$89.98$87.69−$2.29
Jan 25, 2008$90.37$90.96+$0.59
Jan 28, 2008$90.99$90.91−$0.08
Jan 29, 2008$91.66$92.49+$0.83
Jan 30, 2008$92.34$92.46+$0.12
Jan 31, 2008$91.67$91.58−$0.09
Feb 1, 2008$89.03$91.41+$2.38
Feb 4, 2008$90.07$91.09+$1.02
Feb 5, 2008$88.32$89.60+$1.28
Feb 6, 2008$87.16$88.73+$1.57
Feb 7, 2008$88.07$88.55+$0.48
Feb 8, 2008$91.77$91.45−$0.32
Feb 11, 2008$93.56$93.93+$0.37
Feb 12, 2008$92.82$94.28+$1.46
Feb 13, 2008$93.28$93.82+$0.54
Feb 14, 2008$95.42$95.92+$0.50
Feb 15, 2008$95.57$96.96+$1.39
Feb 19, 2008$99.99$97.03−$2.96
Feb 20, 2008$100.86$97.88−$2.98
Feb 21, 2008$98.57$97.52−$1.05
Feb 22, 2008$99.03$96.07−$2.96
Feb 25, 2008$99.40$97.43−$1.97
Feb 26, 2008$100.83$99.05−$1.78
Feb 27, 2008$99.59$98.28−$1.31
Feb 28, 2008$102.60$99.83−$2.77
Feb 29, 2008$101.78$100.90−$0.88
Mar 3, 2008$102.42$101.83−$0.59
Mar 4, 2008$99.72$98.60−$1.12
Mar 5, 2008$104.45$100.95−$3.50
Mar 6, 2008$105.51$103.47−$2.04
Mar 7, 2008$105.12$104.66−$0.46
Mar 10, 2008$107.90$105.33−$2.57
Mar 11, 2008$108.73$106.78−$1.95
Mar 12, 2008$109.86$107.99−$1.87
Mar 13, 2008$110.21$109.18−$1.03
Mar 14, 2008$110.03$109.16−$0.87
Mar 17, 2008$105.74$104.41−$1.33
Mar 18, 2008$109.57$105.35−$4.22
Mar 19, 2008$103.25$102.65−$0.60
Mar 20, 2008$102.57$99.78−$2.79
Mar 24, 2008$101.70$100.93−$0.77
Mar 25, 2008$101.78$99.91−$1.87
Mar 26, 2008$105.83$102.83−$3.00
Mar 27, 2008$107.56$103.89−$3.67
Mar 28, 2008$105.59$102.68−$2.91
Mar 31, 2008$101.54$102.33+$0.79
Apr 1, 2008$100.92$98.69−$2.23
Apr 2, 2008$104.83$98.85−$5.98
Apr 3, 2008$103.92$102.31−$1.61
Apr 4, 2008$106.09$102.21−$3.88
Apr 7, 2008$108.91$105.98−$2.93
Apr 8, 2008$108.54$105.05−$3.49
Apr 9, 2008$110.89$107.46−$3.43
Apr 10, 2008$110.07$107.37−$2.70
Apr 11, 2008$110.14$107.15−$2.99
Apr 14, 2008$111.71$108.32−$3.39
Apr 15, 2008$113.77$110.84−$2.93
Apr 16, 2008$114.80$110.95−$3.85
Apr 17, 2008$114.80$111.34−$3.46
Apr 18, 2008$116.56$110.67−$5.89
Apr 21, 2008$117.48$111.35−$6.13
Apr 22, 2008$119.17$113.54−$5.63
Apr 23, 2008$119.28$115.34−$3.94
Apr 24, 2008$117.10$114.85−$2.25
Apr 25, 2008$119.64$116.62−$3.02
Apr 28, 2008$118.78$115.70−$3.08
Apr 29, 2008$115.67$113.86−$1.81
Apr 30, 2008$113.70$111.12−$2.58
May 1, 2008$112.60$107.30−$5.30
May 2, 2008$116.36$111.92−$4.44
May 5, 2008$119.94$115.68−$4.26
May 6, 2008$121.82$119.88−$1.94
May 7, 2008$123.56$120.27−$3.29
May 8, 2008$123.77$119.85−$3.92
May 9, 2008$125.94$123.54−$2.40
May 12, 2008$124.02$122.89−$1.13
May 13, 2008$125.83$123.11−$2.72
May 14, 2008$124.21$121.18−$3.03
May 15, 2008$124.25$122.76−$1.49
May 16, 2008$126.50$122.98−$3.52
May 19, 2008$127.15$122.19−$4.96
May 20, 2008$128.93$124.12−$4.81
May 21, 2008$132.99$127.28−$5.71
May 22, 2008$130.04$129.04−$1.00
May 23, 2008$131.58$129.72−$1.86
May 27, 2008$128.81$128.92+$0.11
May 28, 2008$131.00$128.93−$2.07
May 29, 2008$126.70$129.33+$2.63
May 30, 2008$127.35$127.85+$0.50
Jun 2, 2008$127.75$128.50+$0.75
Jun 3, 2008$124.33$126.28+$1.95
Jun 4, 2008$122.30$121.72−$0.58
Jun 5, 2008$127.93$122.36−$5.57
Jun 6, 2008$138.51$132.81−$5.70
Jun 9, 2008$134.44$134.43−$0.01
Jun 10, 2008$131.38$135.24+$3.86
Jun 11, 2008$136.43$134.52−$1.91
Jun 12, 2008$136.91$132.11−$4.80
Jun 13, 2008$134.84$134.29−$0.55
Jun 16, 2008$134.52$133.90−$0.62
Jun 17, 2008$133.99$131.27−$2.72
Jun 18, 2008$136.54$129.12−$7.42
Jun 19, 2008$131.88$131.84−$0.04
Jun 20, 2008$134.78$134.28−$0.50
Jun 23, 2008$135.98$134.54−$1.44
Jun 24, 2008$136.49$135.37−$1.12
Jun 25, 2008$133.92$131.59−$2.33
Jun 26, 2008$138.91$136.82−$2.09
Jun 27, 2008$139.69$139.38−$0.31
Jun 30, 2008$139.96$138.40−$1.56
Jul 1, 2008$141.06$140.67−$0.39
Jul 2, 2008$143.74$141.24−$2.50
Jul 3, 2008$145.31$143.95−$1.36
Jul 7, 2008$141.38$139.62−$1.76
Jul 8, 2008$136.06$134.15−$1.91
Jul 9, 2008$135.88$133.91−$1.97
Jul 10, 2008$141.47$135.81−$5.66
Jul 11, 2008$144.96$143.68−$1.28
Jul 14, 2008$145.16$142.43−$2.73
Jul 15, 2008$138.68$136.02−$2.66
Jul 16, 2008$134.63$133.31−$1.32
Jul 17, 2008$129.43$134.16+$4.73
Jul 18, 2008$128.94$129.34+$0.40
Jul 21, 2008$131.43$129.34−$2.09
Jul 22, 2008$127.25$127.18−$0.07
Jul 23, 2008$123.73$126.86+$3.13
Jul 24, 2008$124.62$125.43+$0.81
Jul 25, 2008$122.59$124.70+$2.11
Jul 28, 2008$124.72$125.67+$0.95
Jul 29, 2008$122.21$125.77+$3.56
Jul 30, 2008$126.74$122.46−$4.28
Jul 31, 2008$124.17$124.10−$0.07
Aug 1, 2008$125.03$124.16−$0.87
Aug 4, 2008$121.45$121.87+$0.42
Aug 5, 2008$118.71$116.50−$2.21
Aug 6, 2008$118.57$114.47−$4.10
Aug 7, 2008$119.84$116.94−$2.90
Aug 8, 2008$115.42$113.03−$2.39
Aug 11, 2008$114.44$110.54−$3.90
Aug 12, 2008$113.10$108.98−$4.12
Aug 13, 2008$115.96$110.68−$5.28
Aug 14, 2008$115.05$111.82−$3.23
Aug 15, 2008$113.46$108.80−$4.66
Aug 18, 2008$112.92$109.33−$3.59
Aug 19, 2008$114.39$109.02−$5.37
Aug 20, 2008$115.48$108.72−$6.76
Aug 21, 2008$121.23$117.24−$3.99
Aug 22, 2008$114.48$113.99−$0.49
Aug 25, 2008$114.85$109.74−$5.11
Aug 26, 2008$116.31$112.20−$4.11
Aug 27, 2008$118.17$113.05−$5.12
Aug 28, 2008$115.58$113.54−$2.04
Aug 29, 2008$115.55$113.49−$2.06
Sep 2, 2008$109.63$104.94−$4.69
Sep 3, 2008$109.38$103.88−$5.50
Sep 4, 2008$107.99$103.41−$4.58
Sep 5, 2008$106.47$102.51−$3.96
Sep 8, 2008$106.35$101.08−$5.27
Sep 9, 2008$103.23$98.94−$4.29
Sep 10, 2008$102.66$96.00−$6.66
Sep 11, 2008$100.95$96.01−$4.94
Sep 12, 2008$101.19$94.37−$6.82
Sep 15, 2008$95.52$90.45−$5.07
Sep 16, 2008$91.49$85.85−$5.64
Sep 17, 2008$97.39$86.09−$11.30
Sep 18, 2008$97.50$90.89−$6.61
Sep 19, 2008$104.05$93.46−$10.59
Sep 22, 2008$122.61$100.43−$22.18
Sep 23, 2008$107.85$100.72−$7.13
Sep 24, 2008$106.84$102.09−$4.75
Sep 25, 2008$111.54$100.45−$11.09
Sep 26, 2008$106.77$100.88−$5.89
Sep 29, 2008$96.29$95.96−$0.33
Sep 30, 2008$100.70$93.52−$7.18
Oct 1, 2008$98.23$92.19−$6.04
Oct 2, 2008$93.84$88.88−$4.96
Oct 3, 2008$93.91$88.95−$4.96
Oct 6, 2008$88.15$84.71−$3.44
Oct 7, 2008$90.18$83.17−$7.01
Oct 8, 2008$88.94$80.77−$8.17
Oct 9, 2008$86.50$81.65−$4.85
Oct 10, 2008$77.44$74.58−$2.86
Oct 13, 2008$81.17$74.37−$6.80
Oct 14, 2008$78.69$74.98−$3.71
Oct 15, 2008$74.38$66.86−$7.52
Oct 16, 2008$69.81$64.14−$5.67
Oct 17, 2008$71.90$66.05−$5.85
Oct 20, 2008$74.08$67.45−$6.63
Oct 21, 2008$71.29$65.99−$5.30
Oct 22, 2008$66.92$62.95−$3.97
Oct 23, 2008$67.17$65.06−$2.11
Oct 24, 2008$63.34$60.57−$2.77
Oct 27, 2008$61.92$59.34−$2.58
Oct 28, 2008$62.80$58.87−$3.93
Oct 29, 2008$67.45$64.00−$3.45
Oct 30, 2008$65.79$60.86−$4.93
Oct 31, 2008$68.10$60.00−$8.10
Nov 3, 2008$63.93$60.32−$3.61
Nov 4, 2008$70.41$62.78−$7.63
Nov 5, 2008$65.41$61.09−$4.32
Nov 6, 2008$60.72$56.14−$4.58
Nov 7, 2008$61.06$56.84−$4.22
Nov 10, 2008$62.19$57.08−$5.11
Nov 11, 2008$59.38$54.76−$4.62
Nov 12, 2008$55.95$52.47−$3.48
Nov 13, 2008$58.31$51.32−$6.99
Nov 14, 2008$57.18$50.70−$6.48
Nov 17, 2008$55.14$50.82−$4.32
Nov 18, 2008$54.42$49.10−$5.32
Nov 19, 2008$53.64$48.35−$5.29
Nov 20, 2008$48.86$45.79−$3.07
Nov 21, 2008$49.22$44.91−$4.31
Nov 24, 2008$53.63$49.51−$4.12
Nov 25, 2008$50.02$47.51−$2.51
Nov 26, 2008$54.20$49.39−$4.81
Nov 28, 2008$55.21$47.72−$7.49
Dec 1, 2008$49.34$47.58−$1.76
Dec 2, 2008$47.05$45.64−$1.41
Dec 3, 2008$46.79$44.39−$2.40
Dec 4, 2008$43.80$43.83+$0.03
Dec 5, 2008$41.01$37.04−$3.97
Dec 8, 2008$43.69$40.02−$3.67
Dec 9, 2008$42.00$39.77−$2.23
Dec 10, 2008$43.10$39.34−$3.76
Dec 11, 2008$47.77$43.54−$4.23
Dec 12, 2008$46.27$42.38−$3.89
Dec 15, 2008$44.61$45.02+$0.41
Dec 16, 2008$43.84$42.00−$1.84
Dec 17, 2008$40.17$41.84+$1.67
Dec 18, 2008$36.73$40.19+$3.46
Dec 19, 2008$33.17$39.52+$6.35
Dec 22, 2008$31.10$38.08+$6.98
Dec 23, 2008$30.28$35.27+$4.99
Dec 24, 2008$32.94$34.45+$1.51
Dec 26, 2008$37.58$33.73−$3.85
Dec 29, 2008$39.89$34.16−$5.73
Dec 30, 2008$38.95$35.22−$3.73
Dec 31, 2008$44.60$35.82−$8.78

“—” means EIA published no price for that benchmark on that date.

Price episode covering 2008: 2008 spike and crash

Source and methodology

ProviderSeriesUnitsCoverageLatest observation
U.S. Energy Information AdministrationRWTC — WTI spot price FOB$/bblJan 2, 2008 – Dec 31, 2008Dec 31, 2008
U.S. Energy Information AdministrationRBRTE — Brent spot price FOB$/bblJan 2, 2008 – Dec 31, 2008Dec 31, 2008
U.S. Bureau of Labor StatisticsCUUR0000SA0 — CPI-U, all items, NSAindex, 1982–84=100monthly and annual averageSeptember 2026

Inflation adjustment: real = nominal × CPI-U(September 2026) ÷ CPI-U(period). Annual figures use the BLS annual average CPI-U; a year without one uses the mean of the months published so far.

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:2008 daily prices (CSV)