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Oil Prices in 1991: WTI & Brent History and Monthly Averages

WTI average
$21.54
EIA annual average
WTI vs prior year
−12.2%
1990: $24.53
Brent average
$20.04
EIA annual average
Brent vs prior year
−15.7%
1990: $23.76

WTI averaged $21.54 per barrel in 1991, down $2.99 (12.2%) from 1990; that was the lowest annual average since 1989.

Monthly average prices in 1991

Monthly averages and daily ranges, 1991 ($/bbl)
MonthWTI avgWTI highWTI lowBrent avgBrent − WTI (matched dates)WTI (September 2026 $)Brent (September 2026 $)
January$25.23$32.25$20.05$23.57−$1.67$63.16$59.00
February$20.48$22.78$17.43$19.54−$0.94$51.19$48.84
March$19.90$20.78$19.00$19.08−$0.82$49.67$47.62
April$20.83$21.85$19.28$19.18−$1.65$51.91$47.80
May$21.23$21.92$20.73$19.19−$2.05$52.75$47.68
June$20.19$21.16$19.70$18.17−$2.02$50.02$45.02
July$21.40$22.20$20.69$19.40−$2.01$52.94$47.99
August$21.69$22.50$21.29$19.77−$1.92$53.50$48.77
September$21.89$22.42$21.36$20.50−$1.39$53.76$50.34
October$23.23$24.12$22.10$22.21−$1.02$56.97$54.46
November$22.46$23.85$21.04$21.11−$1.35$54.92$51.62
December$19.50$21.10$18.28$18.41−$1.09$47.65$44.98

Monthly averages are EIA's published figures. Brent − WTI is the average over dates with both prices published, so it can differ from the difference between the two monthly averages. Inflation-adjusted columns use CPI-U for each month, expressed in September 2026 dollars; “—” means CPI-U for that month is not available.

The largest one-day move was −$10.77 on Jan 17, 1991 (−33.4%), the 10th largest daily dollar move in the record. The steepest fall within the year ran from $32.25 on Jan 16, 1991 to $17.43 on Feb 22, 1991, a 46% drop. The price moved by 5% or more in a single day 18 times. From $24.88 on Jan 4, 1991, WTI climbed to $32.25 by Jan 16, 1991, a 30% gain.

Brent traded below WTI throughout 1991: its monthly average was lower in every month, and on the 256 matched dates it averaged $1.50 less. Brent averaged $20.04, down $3.72 (15.7%) from 1990.

Monthly averages peaked early, at $25.23 in January, and bottomed at $19.50 in December. In September 2026 dollars (CPI-U), the 1991 average is $53.29, lower than 2025's real average by $15.15 (22.1%). The 1990s as a whole averaged $19.70, so 1991 ran above its decade. Of 40 complete years with an EIA annual average, 1991 ranks 12th lowest.

1991 summary statistics

MeasureWTIBrentBrent − WTI
Average$21.54$20.04−$1.50
Change vs 1990 average−$2.99−$3.72−$0.71
Highest daily price$32.25 Jan 16, 1991$30.28 Jan 16, 1991—
Lowest daily price$17.43 Feb 22, 1991$17.60 Dec 23, 1991—
Highest daily spread——+$0.40 Feb 25, 1991
Lowest daily spread——−$5.65 Jan 9, 1991
First observation$26.53 Jan 2, 1991$26.78 Jan 2, 1991—
Last observation$19.15 Dec 31, 1991$17.75 Dec 31, 1991—
Published daily observations256257256 matched
Average in September 2026 dollars$53.29$49.58—

Daily spot prices in 1991

Show all 257 dates (Jan 2, 1991 – Dec 31, 1991)
DateWTIBrentBrent − WTI
Jan 2, 1991$26.53$26.78+$0.25
Jan 3, 1991$25.61$25.05−$0.56
Jan 4, 1991$24.88$24.08−$0.80
Jan 7, 1991$27.25$25.93−$1.32
Jan 8, 1991$27.50$25.73−$1.77
Jan 9, 1991$28.00$22.35−$5.65
Jan 10, 1991$27.55$26.58−$0.97
Jan 11, 1991$27.43$26.05−$1.38
Jan 14, 1991$30.13$29.55−$0.58
Jan 15, 1991$30.35$29.25−$1.10
Jan 16, 1991$32.25$30.28−$1.97
Jan 17, 1991$21.48$21.10−$0.38
Jan 18, 1991$20.05$19.10−$0.95
Jan 21, 1991$21.63$19.25−$2.38
Jan 22, 1991$24.91$20.73−$4.18
Jan 23, 1991$24.08$22.15−$1.93
Jan 24, 1991$25.63$20.90−$4.73
Jan 25, 1991$24.15$20.80−$3.35
Jan 28, 1991$21.03$20.40−$0.63
Jan 29, 1991$21.73$20.75−$0.98
Jan 30, 1991$21.08$20.95−$0.13
Jan 31, 1991$21.90$20.70−$1.20
Feb 1, 1991$21.33$20.80−$0.53
Feb 4, 1991$21.23$20.45−$0.78
Feb 5, 1991$20.70$20.20−$0.50
Feb 6, 1991$21.48$20.93−$0.55
Feb 7, 1991$21.33$20.90−$0.43
Feb 8, 1991$21.78$20.65−$1.13
Feb 11, 1991$22.44$21.23−$1.21
Feb 12, 1991$22.78$21.10−$1.68
Feb 13, 1991$22.38$21.00−$1.38
Feb 14, 1991$22.25$20.50−$1.75
Feb 15, 1991$20.73$18.35−$2.38
Feb 18, 1991$20.73$17.68−$3.05
Feb 19, 1991$20.08$17.85−$2.23
Feb 20, 1991$20.18$18.75−$1.43
Feb 21, 1991$18.48$18.55+$0.07
Feb 22, 1991$17.43$17.80+$0.37
Feb 25, 1991$17.43$17.83+$0.40
Feb 26, 1991$18.48$18.00−$0.48
Feb 27, 1991$19.03$18.65−$0.38
Feb 28, 1991$19.28$19.50+$0.22
Mar 1, 1991$19.43$19.33−$0.10
Mar 4, 1991$20.33$20.20−$0.13
Mar 5, 1991$20.50$20.05−$0.45
Mar 6, 1991$19.78$19.85+$0.07
Mar 7, 1991$19.33$19.65+$0.32
Mar 8, 1991$19.34$19.10−$0.24
Mar 11, 1991$19.00$18.60−$0.40
Mar 12, 1991$20.06$18.43−$1.63
Mar 13, 1991$20.48$20.33−$0.15
Mar 14, 1991$20.05$19.98−$0.07
Mar 15, 1991$19.88$19.05−$0.83
Mar 18, 1991$19.78$18.30−$1.48
Mar 19, 1991$20.68$18.95−$1.73
Mar 20, 1991$20.40$18.98−$1.42
Mar 21, 1991$20.78$18.80−$1.98
Mar 22, 1991$19.88$18.95−$0.93
Mar 25, 1991$19.47$18.60−$0.87
Mar 26, 1991$19.78$18.35−$1.43
Mar 27, 1991$19.45$18.15−$1.30
Mar 28, 1991$19.63$18.00−$1.63
Apr 1, 1991$19.28$18.00−$1.28
Apr 2, 1991$19.38$17.63−$1.75
Apr 3, 1991$19.48$17.75−$1.73
Apr 4, 1991$19.98$18.00−$1.98
Apr 5, 1991$20.03$18.35−$1.68
Apr 8, 1991$20.28$18.58−$1.70
Apr 9, 1991$20.58$18.60−$1.98
Apr 10, 1991$21.08$19.25−$1.83
Apr 11, 1991$20.98$19.50−$1.48
Apr 12, 1991$21.54$19.93−$1.61
Apr 15, 1991$21.85$20.23−$1.62
Apr 16, 1991$21.60$19.90−$1.70
Apr 17, 1991$21.73$19.85−$1.88
Apr 18, 1991$21.08$19.40−$1.68
Apr 19, 1991$21.16$19.18−$1.98
Apr 22, 1991$21.68$19.78−$1.90
Apr 23, 1991$21.03$19.60−$1.43
Apr 24, 1991$21.00$19.55−$1.45
Apr 25, 1991$20.95$19.60−$1.35
Apr 26, 1991$21.28$19.63−$1.65
Apr 29, 1991$21.30$19.95−$1.35
Apr 30, 1991$20.99$19.70−$1.29
May 1, 1991$21.28$19.70−$1.58
May 2, 1991$21.17$19.70−$1.47
May 3, 1991$21.43$19.55−$1.88
May 6, 1991$21.73$19.80−$1.93
May 7, 1991$21.72$19.85−$1.87
May 8, 1991$21.83$19.80−$2.03
May 9, 1991$21.92$20.08−$1.84
May 10, 1991$21.25$19.53−$1.72
May 13, 1991$20.89$19.25−$1.64
May 14, 1991$20.73$18.95−$1.78
May 15, 1991$21.04$18.80−$2.24
May 16, 1991$20.91$18.75−$2.16
May 17, 1991$21.19$18.75−$2.44
May 20, 1991$21.39$18.90−$2.49
May 21, 1991$20.95$19.03−$1.92
May 22, 1991$20.85$18.58−$2.27
May 23, 1991$20.95$18.78−$2.17
May 24, 1991$21.04$18.83−$2.21
May 28, 1991$21.34$19.00−$2.34
May 29, 1991$21.04$18.75−$2.29
May 30, 1991$21.30$18.73−$2.57
May 31, 1991$21.16$19.00−$2.16
Jun 3, 1991$21.16$19.00−$2.16
Jun 4, 1991$20.90$18.83−$2.07
Jun 5, 1991$20.45$18.63−$1.82
Jun 6, 1991$20.38$18.03−$2.35
Jun 7, 1991$20.28$18.28−$2.00
Jun 10, 1991$19.84$18.00−$1.84
Jun 11, 1991$19.85$17.85−$2.00
Jun 12, 1991$20.08$17.73−$2.35
Jun 13, 1991$19.71$18.00−$1.71
Jun 14, 1991$19.70$17.70−$2.00
Jun 17, 1991$19.97$17.85−$2.12
Jun 18, 1991$20.11$18.00−$2.11
Jun 19, 1991$19.99$17.88−$2.11
Jun 20, 1991$20.22$18.15−$2.07
Jun 21, 1991$20.10$18.43−$1.67
Jun 24, 1991$19.92$18.18−$1.74
Jun 25, 1991$20.03$18.15−$1.88
Jun 26, 1991$20.12$18.10−$2.02
Jun 27, 1991$20.41$18.08−$2.33
Jun 28, 1991$20.56$18.48−$2.08
Jul 1, 1991$20.78$18.53−$2.25
Jul 2, 1991$20.92$18.55−$2.37
Jul 3, 1991$20.69$18.50−$2.19
Jul 4, 1991$20.69$18.48−$2.21
Jul 5, 1991$20.91$18.70−$2.21
Jul 8, 1991$21.29$18.98−$2.31
Jul 9, 1991$21.35$19.03−$2.32
Jul 10, 1991$21.43$19.23−$2.20
Jul 11, 1991$21.32$19.20−$2.12
Jul 12, 1991$21.74$19.78−$1.96
Jul 15, 1991$21.50$19.60−$1.90
Jul 16, 1991$21.70$19.83−$1.87
Jul 17, 1991$22.20$20.13−$2.07
Jul 18, 1991$21.97$20.28−$1.69
Jul 19, 1991$22.16$20.28−$1.88
Jul 22, 1991$21.74$20.08−$1.66
Jul 23, 1991$21.25$19.58−$1.67
Jul 24, 1991$21.41$19.33−$2.08
Jul 25, 1991$21.11$19.60−$1.51
Jul 26, 1991$21.48$19.73−$1.75
Jul 29, 1991$21.38$19.58−$1.80
Jul 30, 1991$21.55$19.48−$2.07
Jul 31, 1991$21.70$19.65−$2.05
Aug 1, 1991$21.33$19.73−$1.60
Aug 2, 1991$21.35$19.40−$1.95
Aug 5, 1991$21.50$19.50−$2.00
Aug 6, 1991$21.39$19.45−$1.94
Aug 7, 1991$21.38$19.35−$2.03
Aug 8, 1991$21.60$19.70−$1.90
Aug 9, 1991$21.64$19.58−$2.06
Aug 12, 1991$21.71$19.63−$2.08
Aug 13, 1991$21.52$19.50−$2.02
Aug 14, 1991$21.30$19.23−$2.07
Aug 15, 1991$21.39$19.25−$2.14
Aug 16, 1991$21.29$19.35−$1.94
Aug 19, 1991$22.50$20.55−$1.95
Aug 20, 1991$22.30$20.98−$1.32
Aug 21, 1991$21.44$19.55−$1.89
Aug 22, 1991$21.93$19.53−$2.40
Aug 23, 1991$21.78$19.85−$1.93
Aug 26, 1991$21.98$20.03−$1.95
Aug 27, 1991$21.86$20.03−$1.83
Aug 28, 1991$21.77$19.98−$1.79
Aug 29, 1991$22.02$20.30−$1.72
Aug 30, 1991$22.28$20.53−$1.75
Sep 2, 1991—$20.65—
Sep 3, 1991$22.28$20.55−$1.73
Sep 4, 1991$21.76$20.25−$1.51
Sep 5, 1991$21.75$20.10−$1.65
Sep 6, 1991$21.56$20.13−$1.43
Sep 9, 1991$21.36$19.85−$1.51
Sep 10, 1991$21.44$19.93−$1.51
Sep 11, 1991$21.66$20.00−$1.66
Sep 12, 1991$21.51$20.25−$1.26
Sep 13, 1991$21.71$20.35−$1.36
Sep 16, 1991$21.84$20.53−$1.31
Sep 17, 1991$21.73$20.30−$1.43
Sep 18, 1991$21.87$20.53−$1.34
Sep 19, 1991$21.79$20.43−$1.36
Sep 20, 1991$22.02$20.55−$1.47
Sep 23, 1991$22.20$20.83−$1.37
Sep 24, 1991$22.24$20.75−$1.49
Sep 25, 1991$22.11$20.65−$1.46
Sep 26, 1991$22.23$21.00−$1.23
Sep 27, 1991$22.42$21.48−$0.94
Sep 30, 1991$22.25$21.43−$0.82
Oct 1, 1991$22.10$21.15−$0.95
Oct 2, 1991$22.34$21.30−$1.04
Oct 3, 1991$22.70$21.75−$0.95
Oct 4, 1991$22.64$21.83−$0.81
Oct 7, 1991$22.99$21.98−$1.01
Oct 8, 1991$23.02$21.95−$1.07
Oct 9, 1991$23.18$22.43−$0.75
Oct 10, 1991$23.01$22.13−$0.88
Oct 11, 1991$23.19$22.08−$1.11
Oct 14, 1991$23.48$22.60−$0.88
Oct 15, 1991$23.89$22.83−$1.06
Oct 16, 1991$23.67$22.60−$1.07
Oct 17, 1991$23.96$22.73−$1.23
Oct 18, 1991$24.12$23.00−$1.12
Oct 21, 1991$24.03$22.95−$1.08
Oct 22, 1991$23.47$22.65−$0.82
Oct 23, 1991$23.14$22.48−$0.66
Oct 24, 1991$23.47$22.25−$1.22
Oct 25, 1991$23.18$22.35−$0.83
Oct 28, 1991$23.24$21.90−$1.34
Oct 29, 1991$23.09$21.85−$1.24
Oct 30, 1991$23.11$21.95−$1.16
Oct 31, 1991$23.29$22.00−$1.29
Nov 1, 1991$23.85$22.53−$1.32
Nov 4, 1991$23.82$22.73−$1.09
Nov 5, 1991$23.78$22.53−$1.25
Nov 6, 1991$23.44$22.00−$1.44
Nov 7, 1991$23.29$21.85−$1.44
Nov 8, 1991$23.00$21.80−$1.20
Nov 11, 1991$22.66$21.45−$1.21
Nov 12, 1991$22.58$21.20−$1.38
Nov 13, 1991$22.28$21.50−$0.78
Nov 14, 1991$22.55$21.00−$1.55
Nov 15, 1991$22.79$21.63−$1.16
Nov 18, 1991$22.38$21.35−$1.03
Nov 19, 1991$21.88$21.08−$0.80
Nov 20, 1991$22.17$20.48−$1.69
Nov 21, 1991$21.93$20.73−$1.20
Nov 22, 1991$21.85$20.15−$1.70
Nov 25, 1991$22.15$19.78−$2.37
Nov 26, 1991$21.04$19.78−$1.26
Nov 27, 1991$21.38$19.65−$1.73
Nov 28, 1991$21.38$19.98−$1.40
Nov 29, 1991$21.48$20.08−$1.40
Dec 2, 1991$21.10$19.60−$1.50
Dec 3, 1991$20.61$19.20−$1.41
Dec 4, 1991$20.75$19.18−$1.57
Dec 5, 1991$20.42$19.15−$1.27
Dec 6, 1991$19.87$19.05−$0.82
Dec 9, 1991$19.39$18.25−$1.14
Dec 10, 1991$19.24$18.10−$1.14
Dec 11, 1991$19.54$18.28−$1.26
Dec 12, 1991$19.94$18.58−$1.36
Dec 13, 1991$20.09$19.05−$1.04
Dec 16, 1991$19.78$18.55−$1.23
Dec 17, 1991$19.45$18.13−$1.32
Dec 18, 1991$19.39$18.15−$1.24
Dec 19, 1991$19.12$18.15−$0.97
Dec 20, 1991$18.28$18.55+$0.27
Dec 23, 1991$18.58$17.60−$0.98
Dec 24, 1991$18.68$17.78−$0.90
Dec 26, 1991$18.63$17.78−$0.85
Dec 27, 1991$18.82$17.75−$1.07
Dec 30, 1991$18.63$18.00−$0.63
Dec 31, 1991$19.15$17.75−$1.40

“—” means EIA published no price for that benchmark on that date.

Price episode covering 1991: 1990–91 Gulf War spike

Source and methodology

ProviderSeriesUnitsCoverageLatest observation
U.S. Energy Information AdministrationRWTC — WTI spot price FOB$/bblJan 2, 1991 – Dec 31, 1991Dec 31, 1991
U.S. Energy Information AdministrationRBRTE — Brent spot price FOB$/bblJan 2, 1991 – Dec 31, 1991Dec 31, 1991
U.S. Bureau of Labor StatisticsCUUR0000SA0 — CPI-U, all items, NSAindex, 1982–84=100monthly and annual averageSeptember 2026

Inflation adjustment: real = nominal × CPI-U(September 2026) ÷ CPI-U(period). Annual figures use the BLS annual average CPI-U; a year without one uses the mean of the months published so far.

Last updated: Oct 21, 2026, 5:27 PM CDT. Raw values are shown in source units; any conversion is labeled. See methodology and data sources.

Download:1991 daily prices (CSV)