Monday, August 23, 2010

What was the price of a barrel of oil in 1940?

For 1940, the prices of crude oil per barrel are as follows:





Nominal Price: US$1.02


Real Value (2004): US$13.71





The real value is more important, as it adjusts for inflation, thus enabling historical comparisons.What was the price of a barrel of oil in 1940?
Oil Price $/Barrel


$1.02

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