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)
* 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 July 22, 2024, 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 July 22, 2024. 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: July 22, 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, 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 July 22, 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], 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/
