Oil Prices in December 2008: WTI & Brent Daily Prices and Monthly Average
WTI dropped in December 2008: the monthly average fell to $41.12, down $16.19 (28.2%) from November 2008, the lowest monthly average in nominal terms since July 2004. The average was 55% below the $91.69 of December 2007.
Daily spot prices, December 2008
Chart data table (22 rows)
| Period | WTI | Brent |
|---|---|---|
| Dec 31, 2008 | $44.60 | $35.82 |
| Dec 30, 2008 | $38.95 | $35.22 |
| Dec 29, 2008 | $39.89 | $34.16 |
| Dec 26, 2008 | $37.58 | $33.73 |
| Dec 24, 2008 | $32.94 | $34.45 |
| Dec 23, 2008 | $30.28 | $35.27 |
| Dec 22, 2008 | $31.10 | $38.08 |
| Dec 19, 2008 | $33.17 | $39.52 |
| Dec 18, 2008 | $36.73 | $40.19 |
| Dec 17, 2008 | $40.17 | $41.84 |
| Dec 16, 2008 | $43.84 | $42.00 |
| Dec 15, 2008 | $44.61 | $45.02 |
| Dec 12, 2008 | $46.27 | $42.38 |
| Dec 11, 2008 | $47.77 | $43.54 |
| Dec 10, 2008 | $43.10 | $39.34 |
| Dec 9, 2008 | $42.00 | $39.77 |
| Dec 8, 2008 | $43.69 | $40.02 |
| Dec 5, 2008 | $41.01 | $37.04 |
| Dec 4, 2008 | $43.80 | $43.83 |
| Dec 3, 2008 | $46.79 | $44.39 |
| Dec 2, 2008 | $47.05 | $45.64 |
| Dec 1, 2008 | $49.34 | $47.58 |
The month's range ran from $30.28 on Dec 23, 2008 to $49.34 on Dec 1, 2008; the last price was $44.60 on Dec 31, 2008. The largest one-day move was −$5.87 on Dec 1, 2008 (−10.6%).
Brent traded below WTI on average this month: $39.95 for the month, $1.17 under WTI across 22 matched dates.
It was the lowest monthly average of 2008. Adjusted with CPI-U, the December 2008 average equals $65.90 in September 2026 dollars.
December 2008 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $41.12 | $39.95 |
| Change vs November 2008 | −$16.19 | −$12.50 |
| Change vs December 2007 | −$50.57 | −$50.98 |
| Highest daily price | $49.34 Dec 1, 2008 | $47.58 Dec 1, 2008 |
| Lowest daily price | $30.28 Dec 23, 2008 | $33.73 Dec 26, 2008 |
| Published daily observations | 22 | 22 |
| Average in September 2026 dollars (CPI-U) | $65.90 | $64.03 |
Monthly averages are EIA's published figures. Real figures use CPI-U for December 2008.
Part of the price episode: 2008 spike and crash
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Dec 1, 2008 – Dec 31, 2008 | Dec 31, 2008 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Dec 1, 2008 – Dec 31, 2008 | Dec 31, 2008 |
| U.S. Bureau of Labor Statistics | CUUR0000SA0 — CPI-U, all items, NSA | index, 1982–84=100 | monthly | September 2026 |
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:2008 daily prices (CSV)