Oil Prices in March 2023: WTI & Brent Daily Prices and Monthly Average
At $73.28 per barrel, March 2023's WTI average was the lowest monthly average in nominal terms since December 2021, down $3.55 (4.6%) from February 2023. The average was 32% below the $108.50 of March 2022.
Daily spot prices, March 2023
Chart data table (22 rows)
| Period | WTI | Brent |
|---|---|---|
| Mar 31, 2023 | $75.68 | $79.19 |
| Mar 30, 2023 | $74.32 | $78.45 |
| Mar 29, 2023 | $72.95 | $77.51 |
| Mar 28, 2023 | $73.12 | $78.07 |
| Mar 27, 2023 | $72.87 | $76.80 |
| Mar 24, 2023 | $69.22 | $73.63 |
| Mar 23, 2023 | $69.77 | $74.31 |
| Mar 22, 2023 | $70.71 | $76.08 |
| Mar 21, 2023 | $69.40 | $74.78 |
| Mar 20, 2023 | $67.56 | $72.42 |
| Mar 17, 2023 | $66.61 | $71.03 |
| Mar 16, 2023 | $68.15 | $73.12 |
| Mar 15, 2023 | $67.38 | $74.30 |
| Mar 14, 2023 | $71.18 | $76.77 |
| Mar 13, 2023 | $74.68 | $79.67 |
| Mar 10, 2023 | $76.55 | $82.30 |
| Mar 9, 2023 | $75.60 | $81.00 |
| Mar 8, 2023 | $76.56 | $82.10 |
| Mar 6, 2023 | $80.39 | $85.86 |
| Mar 3, 2023 | $79.62 | $85.74 |
| Mar 2, 2023 | $78.05 | $84.15 |
| Mar 1, 2023 | $77.57 | $83.68 |
Prices peaked at $80.39 on Mar 6, 2023, then fell to $66.61 on Mar 17, 2023 and ended at $75.68. The largest one-day move was −$3.83 on Mar 8, 2023 (−4.8%).
Brent averaged $78.43; its premium over WTI on matched dates averaged $5.14, with the daily Brent − WTI difference ranging from +$3.51 to +$6.92.
Adjusted with CPI-U, the March 2023 average equals $81.80 in September 2026 dollars.
March 2023 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $73.28 | $78.43 |
| Change vs February 2023 | −$3.55 | −$4.16 |
| Change vs March 2022 | −$35.22 | −$38.82 |
| Highest daily price | $80.39 Mar 6, 2023 | $85.86 Mar 6, 2023 |
| Lowest daily price | $66.61 Mar 17, 2023 | $71.03 Mar 17, 2023 |
| Published daily observations | 22 | 22 |
| Average in September 2026 dollars (CPI-U) | $81.80 | $87.55 |
Monthly averages are EIA's published figures. Real figures use CPI-U for March 2023.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Mar 1, 2023 – Mar 31, 2023 | Mar 31, 2023 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Mar 1, 2023 – Mar 31, 2023 | Mar 31, 2023 |
| 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:2023 daily prices (CSV)