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Friday, July 29, 2011

WTI Crude Oil Price as of July 29, 2011


This graph (click on it for a larger image) shows the monthly average prices of West Texas Intermediate (WTI) crude oil, from January, 2006 through July, 2011.

The 2010 line is in BLACK, and the 2011 line is in RED. Earlier years are in other colors. Monthly values are shown for 2010 and 2011. Since March, 2011, WTI prices have been running about 30% higher than in 2010. While this is crude oil, it translates pretty directly into gasoline prices, which is why gas prices have also been running about 30% above 2010, or about $1 a gallon higher for regular gasoline.

Sadly, energy and food prices are excluded from the government's calculation of CORE inflation.