Oil Prices in August 2008: WTI & Brent Daily Prices and Monthly Average
WTI dropped in August 2008: the monthly average fell to $116.67, down $16.70 (12.5%) from July 2008. The average was 61% above the $72.36 of August 2007.
Daily spot prices, August 2008
Chart data table (21 rows)
| Period | WTI | Brent |
|---|---|---|
| Aug 29, 2008 | $115.55 | $113.49 |
| Aug 28, 2008 | $115.58 | $113.54 |
| Aug 27, 2008 | $118.17 | $113.05 |
| Aug 26, 2008 | $116.31 | $112.20 |
| Aug 25, 2008 | $114.85 | $109.74 |
| Aug 22, 2008 | $114.48 | $113.99 |
| Aug 21, 2008 | $121.23 | $117.24 |
| Aug 20, 2008 | $115.48 | $108.72 |
| Aug 19, 2008 | $114.39 | $109.02 |
| Aug 18, 2008 | $112.92 | $109.33 |
| Aug 15, 2008 | $113.46 | $108.80 |
| Aug 14, 2008 | $115.05 | $111.82 |
| Aug 13, 2008 | $115.96 | $110.68 |
| Aug 12, 2008 | $113.10 | $108.98 |
| Aug 11, 2008 | $114.44 | $110.54 |
| Aug 8, 2008 | $115.42 | $113.03 |
| Aug 7, 2008 | $119.84 | $116.94 |
| Aug 6, 2008 | $118.57 | $114.47 |
| Aug 5, 2008 | $118.71 | $116.50 |
| Aug 4, 2008 | $121.45 | $121.87 |
| Aug 1, 2008 | $125.03 | $124.16 |
Prices fell over the month, from $125.03 on Aug 1, 2008 to $115.55 on Aug 29, 2008. The largest one-day move was −$6.75 on Aug 22, 2008 (−5.6%).
Brent traded below WTI on average this month: $113.24 for the month, $3.42 under WTI across 21 matched dates.
Adjusted with CPI-U, the August 2008 average equals $179.43 in September 2026 dollars.
August 2008 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $116.67 | $113.24 |
| Change vs July 2008 | −$16.70 | −$19.48 |
| Change vs August 2007 | +$44.31 | +$42.48 |
| Highest daily price | $125.03 Aug 1, 2008 | $124.16 Aug 1, 2008 |
| Lowest daily price | $112.92 Aug 18, 2008 | $108.72 Aug 20, 2008 |
| Published daily observations | 21 | 21 |
| Average in September 2026 dollars (CPI-U) | $179.43 | $174.16 |
Monthly averages are EIA's published figures. Real figures use CPI-U for August 2008.
Part of the price episode: 2008 spike and crash
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Aug 1, 2008 – Aug 29, 2008 | Aug 29, 2008 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Aug 1, 2008 – Aug 29, 2008 | Aug 29, 2008 |
| 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:2008 daily prices (CSV)