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Domestic first purchase crude oil prices in the U.S. 1975-2020

Annual average domestic first purchase prices for crude oil in the United States in selected years from 1975 to 2020*

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Source

Release date

March 2021

Region

United States

Survey time period

1975 to 2020

Supplementary notes

* According to the source, the average domestic first purchase price represents the average price at which all domestic crude oil is purchased. Prior to February 1976, the price represented an estimate of the average of posted prices; beginning with February 1976, the price represents an average of actual first purchase prices.
Nominal U.S. dollars reflect the buying power in the year in which the transaction occurred; not adjusted to remove the effect of changes in the purchasing power of the dollar.

Annual averages are the averages of the monthly prices, weighted by volume.

Geographic coverage is the 50 States, the District of Columbia, Puerto Rico, the Virgin Islands, and all U.S. Territories and Possessions.

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* Prices do not include sales tax.

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