Raw Number » Economics http://rawnumber.com Making sense out of the daily stream of numbers and information one byte at a time. Sun, 24 Jan 2010 08:05:30 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Price of Oil per Barrel since 1940 http://rawnumber.com/business/price-of-oil-per-barrel-since-1940/ http://rawnumber.com/business/price-of-oil-per-barrel-since-1940/#comments Wed, 16 Apr 2008 07:30:54 +0000 Admin http://rawnumber.com/?p=15 Crude Oil prices have been in the news lately and have most recently hit a symbolic high of $114 a barrel. These prices are still lower if you account for inflation compared to during the Iraq/Iran war of 1980. Also the United States still enjoys a import price over the rest of the world of around $5-$7. Still though we are on track to overtake the old record of 1980 by the end of 2Q at the latest if everything stays the same.

Here is a graph posted by the New York Times that breaks down the price of oil adjusted for inflation since 1940.

Graph of Oil per Barrel Price Ajusted

Also the New York Times gives a audio primer on the actions of American oil consumption and price for the last 70 years.

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