As a result of a downturn in the worlds economic activity the demand for crude reduces causing the price to go down.
The highest price for barrel of crude oil reached $128.08in July 2008.
The price of a barrel of crude oil in February 2008 was $89.41
The price of a barrel of crude oil reached its highest 2008 price in the month of July when it hit $128.08 per barrel.
The highest price was reached in July 2008, with a per-barrel price of $128.08
About $112.83 per barrel.
The average price of a barrel of crude oil in 1901 was 96 cents.
In 1977, the average price for a barrel of crude oil was $14.40 (about $60.00 in today's dollars).
If the price of crude oil increases, the supply curve for gasoline typically shifts to the left. This is because higher crude oil prices increase production costs for gasoline, leading suppliers to produce less at each price level. As a result, consumers may face higher prices for gasoline due to the reduced supply.
The average price for a barrel of crude oil in 2000 was: $26.72
The average price for a barrel of crude oil in May 2007 was: $58.90
In 1997, the average price for a barrel of crude oil was $18.64 (about $30.00 in today's dollars).
From 2005-2010, the average price for a barrel of crude oil is: about $67.00.