Oil Prices in October 2008: WTI & Brent Daily Prices and Monthly Average
WTI dropped in October 2008: the monthly average fell to $76.61, down $27.50 (26.4%) from September 2008, the lowest monthly average in nominal terms since August 2007. A year earlier, in October 2007, it averaged $85.80, so the price was lower by $9.19 (10.7%) year over year.
Daily spot prices, October 2008
Chart data table (23 rows)
| Period | WTI | Brent |
|---|---|---|
| Oct 31, 2008 | $68.10 | $60.00 |
| Oct 30, 2008 | $65.79 | $60.86 |
| Oct 29, 2008 | $67.45 | $64.00 |
| Oct 28, 2008 | $62.80 | $58.87 |
| Oct 27, 2008 | $61.92 | $59.34 |
| Oct 24, 2008 | $63.34 | $60.57 |
| Oct 23, 2008 | $67.17 | $65.06 |
| Oct 22, 2008 | $66.92 | $62.95 |
| Oct 21, 2008 | $71.29 | $65.99 |
| Oct 20, 2008 | $74.08 | $67.45 |
| Oct 17, 2008 | $71.90 | $66.05 |
| Oct 16, 2008 | $69.81 | $64.14 |
| Oct 15, 2008 | $74.38 | $66.86 |
| Oct 14, 2008 | $78.69 | $74.98 |
| Oct 13, 2008 | $81.17 | $74.37 |
| Oct 10, 2008 | $77.44 | $74.58 |
| Oct 9, 2008 | $86.50 | $81.65 |
| Oct 8, 2008 | $88.94 | $80.77 |
| Oct 7, 2008 | $90.18 | $83.17 |
| Oct 6, 2008 | $88.15 | $84.71 |
| Oct 3, 2008 | $93.91 | $88.95 |
| Oct 2, 2008 | $93.84 | $88.88 |
| Oct 1, 2008 | $98.23 | $92.19 |
Prices fell over the month, from $98.23 on Oct 1, 2008 to $68.10 on Oct 31, 2008, with declines on 14 of 23 trading days. The largest one-day move was −$9.06 on Oct 10, 2008 (−10.5%).
Brent traded below WTI on average this month: $71.58 for the month, $5.03 under WTI across 23 matched dates.
Adjusted with CPI-U, the October 2008 average equals $119.19 in September 2026 dollars.
October 2008 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $76.61 | $71.58 |
| Change vs September 2008 | −$27.50 | −$25.65 |
| Change vs October 2007 | −$9.19 | −$10.76 |
| Highest daily price | $98.23 Oct 1, 2008 | $92.19 Oct 1, 2008 |
| Lowest daily price | $61.92 Oct 27, 2008 | $58.87 Oct 28, 2008 |
| Published daily observations | 23 | 23 |
| Average in September 2026 dollars (CPI-U) | $119.19 | $111.36 |
Monthly averages are EIA's published figures. Real figures use CPI-U for October 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 | Oct 1, 2008 – Oct 31, 2008 | Oct 31, 2008 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Oct 1, 2008 – Oct 31, 2008 | Oct 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)