Over the last several decades, the price of WTI crude oil has been affected by notable events and crises taking place throughout the world. The inflation adjusted price of one barrel of crude oil peaked shortly before the global financial crisis in 2008 at ****** real U.S. dollars. By the first quarter of 2009, the crude oil price had plummeted to ***** real U.S. dollars per barrel. By comparison, the through price during the coronavirus pandemic was ***** real U.S. dollars.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Fats and Oils in U.S. City Average (CUSR0000SEFS) from Jan 1989 to Aug 2025 about oil, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

As of July 2025, the average annual price of Brent crude oil stood at 71.79 U.S. dollars per barrel. This is over eight U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

Oil prices stabilize amid easing US inflation, with WTI crude trading just under $68 per barrel. Production adjustments are key in maintaining market balance.

The author argues that the economic benefits of low gasoline prices for the U.S. economy have fallen substantially since the reemergence of America as a major oil producer. The old rule-of thumb that a 10% fall in the oil price raises inflation-adjusted U.S. GDP by 0.2% is too large—the impact on economic activity should be closer to zero, and may even be negative if consumption grows slowly. The reasons for this change are straightforward, if underappreciated: (i) the value of oil production accounts for a larger share of the U.S. economy; and (ii) consumers are not spending the windfall like they used to because of higher debt levels, limited access to credit, slow wage rowth, and an older population.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of July. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

Graph and download economic data for Global price of Brent Crude (POILBREUSDQ) from Q1 1990 to Q2 2025 about crude, oil, World, and price.

Learn about the significance of WTI Real Price, the inflation-adjusted price of West Texas Intermediate (WTI) crude oil. Discover how it assesses the true value of oil, analyzes long-term trends, aids in economic policy formulation, and allows for regional price comparisons. Understand the methodology behind calculating the WTI Real Price and how it provides a more accurate reflection of crude oil's purchasing power.

Graph and download economic data for Producer Price Index by Industry: Pipeline Transportation of Crude Oil: Primary Services (PCU486110486110P) from Jun 1986 to Aug 2025 about pipeline, crude, primary, oil, transportation, services, PPI, industry, inflation, price index, indexes, price, and USA.

One gallon of motor gasoline cost end users in the United States around 1.14 real U.S. dollars in 2024, down from 1.24 real U.S. dollars in the previous year. Figures in 2022 were impacted by that year's surge in crude oil prices, following supply restraints related to the Russia-Ukraine war. According to the source, real dollars have been adjusted for inflation. They reflect the purchasing power of a U.S. dollar relative to the period from 1982 to 1984.

Graph and download economic data for Producer Price Index by Industry: Oil and Gas Extraction (PCU21112111) from Dec 1985 to Aug 2025 about extraction, oil, gas, PPI, industry, inflation, price index, indexes, price, and USA.

About this dataset

Context

The dataset illustrates the median household income in Oil Trough, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars. Based on the latest 2017-2021 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2021, the median household income for Oil Trough decreased by $2,381 (5.65%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.

Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 5 years and declined for 6 years.

https://i.neilsberg.com/ch/oil-trough-ar-median-household-income-trend.jpeg" alt="Oil Trough, AR median household income trend (2010-2021, in 2022 inflation-adjusted dollars)">

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

• 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021

Variables / Data Columns

• Year: This column presents the data year from 2010 to 2021
• Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific year
• YOY Change($): Change in median household income between the current and the previous year, in 2022 inflation-adjusted dollars
• YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Oil Trough median household income. You can refer the same here

About this dataset

Context

The dataset illustrates the median household income in Oil City, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars. Based on the latest 2017-2021 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2021, the median household income for Oil City decreased by $4,824 (16.82%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.

Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 6 years and declined for 5 years.

https://i.neilsberg.com/ch/oil-city-la-median-household-income-trend.jpeg" alt="Oil City, LA median household income trend (2010-2021, in 2022 inflation-adjusted dollars)">

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

• 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021

Variables / Data Columns

• Year: This column presents the data year from 2010 to 2021
• Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific year
• YOY Change($): Change in median household income between the current and the previous year, in 2022 inflation-adjusted dollars
• YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Oil City median household income. You can refer the same here

About this dataset

Context

The dataset illustrates the median household income in Oil Creek township, spanning the years from 2010 to 2023, with all figures adjusted to 2023 inflation-adjusted dollars. Based on the latest 2019-2023 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2023, the median household income for Oil Creek township increased by $3,688 (6.31%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $5,602 (7.68%) between 2010 and 2023.

Analyzing the trend in median household income between the years 2010 and 2023, spanning 13 annual cycles, we observed that median household income, when adjusted for 2023 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 6 years and declined for 7 years.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

• 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 0223

Variables / Data Columns

• Year: This column presents the data year from 2010 to 2023
• Median Household Income: Median household income, in 2023 inflation-adjusted dollars for the specific year
• YOY Change($): Change in median household income between the current and the previous year, in 2023 inflation-adjusted dollars
• YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Oil Creek township median household income. You can refer the same here

Graph and download economic data for Producer Price Index by Commodity: Fuels and Related Products and Power: Home Heating Oil and Distillates (WPU057302) from Jan 1975 to Aug 2025 about heating, fuels, oil, commodities, housing, PPI, inflation, price index, indexes, price, and USA.

This model will help us in knowing that how Crude oil price, interest rate (repo rate), Indian currency price in dollars, Sensex (BSE), Inflation rate and US Dollar index will follow a relationship with the gold price directly or indirectly.

The regression analysis in which we use one dependent variable and multiple independent variables is called a multivariate regression analysis. The forecasting plays an important role in econometrics and also helps to determine government policies with optimality. The business decision which are dependent on the prices of such commodities can make benefits from a feasible prediction. We will have a brief view over the error mean square values of the regression model which will guide us about the predictive ability of the predictive model . The data is wide spread across the time and is available from dated 1st October 2000 to 1 August 2020.

A prediction model is developed for the gold price in India dependent on 5 variables using the statistical interpretations from these variables. The independent variables taken were crude oil prices, USD to INR, Sensex, CPI and Interest rate. The model passes different aspects such as adjusted R squared, T test and Durbin Watson with high favoring values.

The model is passed as a perfect fit along with the residual analysis which depicts that the model is a good fit and acceptable. The data was taken for a long span of time period and there were no missing values which was favorable for the regression model. We could observe a strong relation between the gold price and USD to INR, CPI and Sensex values. In future, more variables can be a part of this model and the data can be for a longer time span leading to the other heights of optimality.

Forecast for the gold prices is created for the next 10 months ahead using ARIMA Model.

Graph and download economic data for Producer Price Index by Commodity: Fuels and Related Products and Power: Crude Petroleum (Domestic Production) (WPU056101) from Jul 1991 to Aug 2025 about petroleum, crude, fuels, domestic, commodities, PPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Producer Price Index by Commodity: Fuels and Related Products and Power: Lubricating Oil Base Stocks (WPU057801) from Jun 2009 to Aug 2025 about lubricants, stocks, fuels, oil, commodities, PPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Producer Price Index by Commodity: Processed Foods and Feeds: Shortening, Cooking Oil, and Margarine (WPU0278) from Jan 1947 to Aug 2025 about cooks, fat, processed, oil, food, commodities, PPI, inflation, price index, indexes, price, and USA.

IPCA: MoM: sa: São Luís: Food and Beverage: Domicile Food: Oils and Fats: Soybean Oil data was reported at -2.140 % in Mar 2025. This records a decrease from the previous number of 0.060 % for Feb 2025. IPCA: MoM: sa: São Luís: Food and Beverage: Domicile Food: Oils and Fats: Soybean Oil data is updated monthly, averaging 0.060 % from Jan 2020 (Median) to Mar 2025, with 63 observations. The data reached an all-time high of 27.790 % in Sep 2020 and a record low of -9.240 % in Sep 2022. IPCA: MoM: sa: São Luís: Food and Beverage: Domicile Food: Oils and Fats: Soybean Oil data remains active status in CEIC and is reported by Brazilian Institute of Geography and Statistics. The data is categorized under Brazil Premium Database’s Inflation – Table BR.ID033: Consumer Price Index: Broad Category - IPCA: POF 2017-2018: Dec1993=100: Month-on-Month: Seasonally Adjusted: by Municipality: Maranhão: São Luís.