April 25, 2006 |
2006-R-0312 | |
PRICES FOR CRUDE OIL AND GASOLINE | ||
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By: Daniel Duffy, Principal Analyst | ||
You asked for the prices of a barrel of crude oil and a gallon of gasoline since 1997, the first year in which the General Assembly considered banning zone pricing in the gasoline industry. You also wanted to know today's prices.
Table 1 displays the prices of a barrel of crude oil and a gallon of gasoline as of the first week of the year. Oil and gasoline prices are reported by the Energy Information Administration. Oil prices represent an average spot price for all countries. Gasoline prices represent the national average price for regular reformulated gasoline.
Table 1: Oil and Gasoline Prices
Year |
All Countries Spot Price, Dollars Per Barrel |
Regular Gasoline, Reformulated Areas, Price Per Gallon |
$ 23. 18 |
$ 1. 25 | |
1998 |
15. 21 |
1. 18 |
1999 |
9. 76 |
1. 01 |
2000 |
23. 17 |
1. 31 |
2001 |
22. 10 |
1. 49 |
2002 |
18. 68 |
1. 12 |
2003 |
29. 03 |
1. 51 |
2004 |
28. 00 |
1. 55 |
2005 |
35. 16 |
1. 85 |
2006 |
55. 12 |
2. 24 |
Today* |
69. 45 |
2. 98 |
* “Today's” price for a barrel of crude is reported by Bloomberg. com and represents the spot price for WTI Cushing. Today's price for a gallon of gasoline is reported by the EIA and is the price reported for the week of April 24, 2006.
DD: ro