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Clicking the picture above will enable you to access oil prices in real terms that are adjusted for inflation. Historical and forecast real and nominal crude oil and gasoline price information is maintained on a more frequent basis on the Short Term Energy Outlook Webpage.
1.OPEC begins to assert power; raises tax rate & posted prices
2.OPEC begins nationalization process; raises prices in response to falling US dollar.
3.Negotiations for gradual transfer of ownership of western assets in OPEC countries
4.Oil embargo begins (October 19-20, 1973)
5.OPEC freezes posted prices; US begins mandatory oil allocation
6...
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