Oil Prices in March 2008: WTI & Brent Daily Prices and Monthly Average
WTI jumped in March 2008: the monthly average rose to $105.45, up $10.06 (10.5%) from February 2008, the highest monthly average in nominal terms since EIA's records began in 1986. The average was 74% above the $60.44 of March 2007.
Daily spot prices, March 2008
Chart data table (20 rows)
| Period | WTI | Brent |
|---|---|---|
| Mar 31, 2008 | $101.54 | $102.33 |
| Mar 28, 2008 | $105.59 | $102.68 |
| Mar 27, 2008 | $107.56 | $103.89 |
| Mar 26, 2008 | $105.83 | $102.83 |
| Mar 25, 2008 | $101.78 | $99.91 |
| Mar 24, 2008 | $101.70 | $100.93 |
| Mar 20, 2008 | $102.57 | $99.78 |
| Mar 19, 2008 | $103.25 | $102.65 |
| Mar 18, 2008 | $109.57 | $105.35 |
| Mar 17, 2008 | $105.74 | $104.41 |
| Mar 14, 2008 | $110.03 | $109.16 |
| Mar 13, 2008 | $110.21 | $109.18 |
| Mar 12, 2008 | $109.86 | $107.99 |
| Mar 11, 2008 | $108.73 | $106.78 |
| Mar 10, 2008 | $107.90 | $105.33 |
| Mar 7, 2008 | $105.12 | $104.66 |
| Mar 6, 2008 | $105.51 | $103.47 |
| Mar 5, 2008 | $104.45 | $100.95 |
| Mar 4, 2008 | $99.72 | $98.60 |
| Mar 3, 2008 | $102.42 | $101.83 |
Prices dipped to $99.72 on Mar 4, 2008, then climbed to $110.21 on Mar 13, 2008 and ended at $101.54. The largest one-day move was −$6.32 on Mar 19, 2008 (−5.8%).
Brent traded below WTI on average this month: $103.64 for the month, $1.82 under WTI across 20 matched dates.
Adjusted with CPI-U, the March 2008 average equals $166.40 in September 2026 dollars.
March 2008 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $105.45 | $103.64 |
| Change vs February 2008 | +$10.06 | +$8.65 |
| Change vs March 2007 | +$45.01 | +$41.59 |
| Highest daily price | $110.21 Mar 13, 2008 | $109.18 Mar 13, 2008 |
| Lowest daily price | $99.72 Mar 4, 2008 | $98.60 Mar 4, 2008 |
| Published daily observations | 20 | 20 |
| Average in September 2026 dollars (CPI-U) | $166.40 | $163.54 |
Monthly averages are EIA's published figures. Real figures use CPI-U for March 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 | Mar 3, 2008 – Mar 31, 2008 | Mar 31, 2008 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Mar 3, 2008 – Mar 31, 2008 | Mar 31, 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)