The domestic first purchase price for crude oil in the United States amounted to 76.1 nominal U.S. dollars per barrel in 2023. This figure represents an increase in comparison to 2020, when the lower fuel demand following mobility restrictions imposed to stave off the coronavirus pandemic resulted in a considerable fall in prices. According to the source, the average domestic first purchase price represents the average price at which all domestic crude oil is purchased. From 1976, the price represents an average of actual first purchase prices.
Annual average domestic first purchase prices for crude oil in the United States in selected years from 1975 to 2023*
(in nominal U.S. dollars per barrel)
Characteristic
Prices in nominal U.S. dollars per barrel
2023
76.1
2022
93.97
2021
65.84
2020
36.86
2019
55.59
2018
61.4
2017
48.05
2016
38.29
2015
44.39
2010
74.71
2005
50.28
2000
26.72
1995
14.62
020406080100120
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* 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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EIA (U.S. Energy Information Administration). (April 25, 2024). Annual average domestic first purchase prices for crude oil in the United States in selected years from 1975 to 2023* (in nominal U.S. dollars per barrel) [Graph]. In Statista. Retrieved May 17, 2025, from https://www.statista.com/statistics/201759/us-domestic-first-purchase-prices-for-crude-oil-since-1975/
EIA (U.S. Energy Information Administration). "Annual average domestic first purchase prices for crude oil in the United States in selected years from 1975 to 2023* (in nominal U.S. dollars per barrel)." Chart. April 25, 2024. Statista. Accessed May 17, 2025. https://www.statista.com/statistics/201759/us-domestic-first-purchase-prices-for-crude-oil-since-1975/
EIA (U.S. Energy Information Administration). (2024). Annual average domestic first purchase prices for crude oil in the United States in selected years from 1975 to 2023* (in nominal U.S. dollars per barrel). Statista. Statista Inc.. Accessed: May 17, 2025. https://www.statista.com/statistics/201759/us-domestic-first-purchase-prices-for-crude-oil-since-1975/
EIA (U.S. Energy Information Administration). "Annual Average Domestic First Purchase Prices for Crude Oil in The United States in Selected Years from 1975 to 2023* (in Nominal U.S. Dollars per Barrel)." Statista, Statista Inc., 25 Apr 2024, https://www.statista.com/statistics/201759/us-domestic-first-purchase-prices-for-crude-oil-since-1975/
EIA (U.S. Energy Information Administration), Annual average domestic first purchase prices for crude oil in the United States in selected years from 1975 to 2023* (in nominal U.S. dollars per barrel) Statista, https://www.statista.com/statistics/201759/us-domestic-first-purchase-prices-for-crude-oil-since-1975/ (last visited May 17, 2025)
Annual average domestic first purchase prices for crude oil in the United States in selected years from 1975 to 2023* (in nominal U.S. dollars per barrel) [Graph], EIA (U.S. Energy Information Administration), April 25, 2024. [Online]. Available: https://www.statista.com/statistics/201759/us-domestic-first-purchase-prices-for-crude-oil-since-1975/
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