Oil Prices in May 2008: WTI & Brent Daily Prices and Monthly Average
WTI jumped in May 2008: the monthly average rose to $125.40, up $12.82 (11.4%) from April 2008, the highest monthly average in nominal terms since EIA's records began in 1986. The average was 98% above the $63.46 of May 2007.
Daily spot prices, May 2008
Chart data table (21 rows)
| Period | WTI | Brent |
|---|---|---|
| May 30, 2008 | $127.35 | $127.85 |
| May 29, 2008 | $126.70 | $129.33 |
| May 28, 2008 | $131.00 | $128.93 |
| May 27, 2008 | $128.81 | $128.92 |
| May 23, 2008 | $131.58 | $129.72 |
| May 22, 2008 | $130.04 | $129.04 |
| May 21, 2008 | $132.99 | $127.28 |
| May 20, 2008 | $128.93 | $124.12 |
| May 19, 2008 | $127.15 | $122.19 |
| May 16, 2008 | $126.50 | $122.98 |
| May 15, 2008 | $124.25 | $122.76 |
| May 14, 2008 | $124.21 | $121.18 |
| May 13, 2008 | $125.83 | $123.11 |
| May 12, 2008 | $124.02 | $122.89 |
| May 9, 2008 | $125.94 | $123.54 |
| May 8, 2008 | $123.77 | $119.85 |
| May 7, 2008 | $123.56 | $120.27 |
| May 6, 2008 | $121.82 | $119.88 |
| May 5, 2008 | $119.94 | $115.68 |
| May 2, 2008 | $116.36 | $111.92 |
| May 1, 2008 | $112.60 | $107.30 |
Prices rose over the month, from $112.60 on May 1, 2008 to $127.35 on May 30, 2008, with gains on 15 of 21 trading days. The largest one-day move was −$4.30 on May 29, 2008 (−3.3%).
Brent traded below WTI on average this month: $122.80 for the month, $2.60 under WTI across 21 matched dates.
Adjusted with CPI-U, the May 2008 average equals $195.04 in September 2026 dollars.
May 2008 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $125.40 | $122.80 |
| Change vs April 2008 | +$12.82 | +$13.73 |
| Change vs May 2007 | +$61.94 | +$55.59 |
| Highest daily price | $132.99 May 21, 2008 | $129.72 May 23, 2008 |
| Lowest daily price | $112.60 May 1, 2008 | $107.30 May 1, 2008 |
| Published daily observations | 21 | 21 |
| Average in September 2026 dollars (CPI-U) | $195.04 | $191.00 |
Monthly averages are EIA's published figures. Real figures use CPI-U for May 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 | May 1, 2008 – May 30, 2008 | May 30, 2008 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | May 1, 2008 – May 30, 2008 | May 30, 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)