Crude Oil Wellhead Prices in Nebraska
The average wellhead price of crude oil increased $1.53 to $67.74 in January 2024 from December 2023. January's monthly average price was $4.57 lower than the average price of $72.31 in the same month last year. The record high monthly average was set in June 2008 at $123.77 per barrel. The record low monthly average was set in December 1998 at $8.63 per barrel.
The annual average price of $71.58 for 2023 was a decrease of $17.62 from $89.20 in 2022. Figure 1 shows that the annual average of $87.44 for 2013 was within cents of the record high of $87.99 set in 2008, but the annual average for 2008 remains the record high rising above the previous records set each year from 2004 to 2008. Before 2004, the record high had been $35.32 set in 1981.
The annual average record low was set in 1978 at $11.40 per barrel. In earlier years, the record low could have been lower, but 1978 is the earliest data recorded.
Nebraska Crude Oil Wellhead Prices 2000 – 2024
(Price per Barrel)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Annual Average |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $67.74 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 2023 | $72.31 | $70.71 | $67.42 | $73.45 | $65.67 | $64.43 | $69.71 | $75.41 | $83.33 | $79.74 | $71.71 | $66.21 | $71.58 |
| 2022 | $77.04 | $85.88 | $103.23 | $96.65 | $104.02 | $108.96 | $94.67 | $86.65 | $78.36 | $81.24 | $78.82 | $71.02 | $89.20 |
| 2021 | $45.56 | $52.69 | $56.27 | $55.40 | $58.80 | $65.14 | $66.47 | $61.65 | $65.23 | $75.06 | $72.34 | $65.83 | $61.89 |
| 2020 | $51.24 | $44.16 | $24.22 | $11.81 | $20.50 | $31.58 | $34.28 | $35.92 | $33.41 | $32.98 | $34.81 | $40.68 | $34.39 |
| 2019 | $44.76 | $48.29 | $51.56 | $57.32 | $54.59 | $48.31 | $50.99 | $48.39 | $50.28 | $47.53 | $50.64 | $53.36 | $50.50 |
| 2018 | $57.40 | $56.04 | $56.78 | $60.07 | $63.82 | $61.12 | $64.67 | $61.78 | $63.95 | $64.63 | $50.76 | $42.05 | $58.61 |
| 2017 | $46.07 | $46.62 | $42.85 | $44.63 | $42.24 | $38.87 | $40.40 | $41.48 | $43.07 | $45.39 | $50.32 | $51.77 | $44.33 |
| 2016 | $24.26 | $22.83 | $30.58 | $33.70 | $39.61 | $41.46 | $38.24 | $38.28 | $38.34 | $43.19 | $38.97 | $45.28 | $36.22 |
| 2015 | $38.30 | $41.18 | $38.20 | $44.71 | $50.24 | $50.61 | $42.47 | $34.32 | $36.84 | $37.90 | $34.62 | $29.31 | $40.10 |
| 2014 | $84.18 | $90.17 | $90.36 | $91.86 | $91.55 | $94.73 | $91.99 | $85.04 | $82.14 | $73.64 | $64.88 | $49.51 | $82.72 |
| 2013 | $84.27 | $84.92 | $82.76 | $81.59 | $84.60 | $85.44 | $94.09 | $96.29 | $96.19 | $89.86 | $82.65 | $86.83 | $87.44 |
| 2012 | $91.60 | $93.78 | $96.68 | $93.67 | $85.61 | $72.46 | $77.67 | $83.63 | $84.36 | $79.13 | $76.17 | $77.88 | $84.95 |
| 2011 | $79.99 | $80.01 | $92.96 | $100.36 | $91.70 | $86.35 | $87.56 | $76.27 | $75.86 | $76.79 | $87.43 | $89.91 | $85.48 |
| 2010 | $67.91 | $66.26 | $71.07 | $74.61 | $64.44 | $65.23 | $66.14 | $66.76 | $65.60 | $72.14 | $74.34 | $79.61 | $69.65 |
| 2009 | $30.02 | $27.79 | $37.28 | $40.09 | $48.80 | $59.28 | $54.08 | $60.73 | $58.87 | $65.63 | $67.58 | $64.43 | $50.93 |
| 2008 | $81.98 | $84.47 | $93.84 | $102.39 | $115.20 | $123.77 | $123.47 | $105.54 | $92.37 | $64.64 | $45.39 | $28.96 | $87.99 |
| 2007 | $44.22 | $49.64 | $50.84 | $54.55 | $53.95 | $57.70 | $64.66 | $62.96 | $69.58 | $76.15 | $85.11 | $81.64 | $62.78 |
| 2006 | $61.44 | $57.22 | $56.48 | $61.19 | $61.44 | $61.62 | $65.40 | $64.08 | $54.27 | $48.58 | $48.41 | $51.56 | $57.77 |
| 2005 | $41.53 | $43.11 | $50.08 | $48.06 | $45.05 | $50.87 | $53.66 | $60.00 | $60.67 | $58.51 | $54.61 | $55.46 | $52.38 |
| 2004 | $31.35 | $31.80 | $34.10 | $33.82 | $37.29 | $35.09 | $37.37 | $41.76 | $43.06 | $50.24 | $46.06 | $38.87 | $38.42 |
| 2003 | $30.36 | $33.28 | $30.88 | $25.98 | $25.88 | $28.12 | $28.50 | $29.32 | $26.00 | $28.02 | $28.31 | $29.53 | $28.63 |
| 2002 | $16.98 | $17.97 | $21.66 | $23.67 | $24.44 | $23.25 | $24.48 | $25.47 | $27.36 | $26.43 | $24.36 | $27.08 | $23.62 |
| 2001 | $27.39 | $27.60 | $24.36 | $24.82 | $25.89 | $24.46 | $23.98 | $24.77 | $24.63 | $19.66 | $19.26 | $16.95 | $23.67 |
| 2000 | $24.70 | $27.25 | $28.07 | $23.61 | $26.56 | $28.86 | $27.78 | $28.88 | $30.80 | $30.42 | $32.14 | $26.36 | $27.97 |
Nebraska Crude Oil Wellhead Prices 1978 – 1999
(Price per Barrel)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Annual Average |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1999 | $9.81 | $9.35 | $12.33 | $14.96 | $15.61 | $15.77 | $17.94 | $19.03 | $21.50 | $20.40 | $22.77 | $23.81 | $17.21 |
| 1998 | $13.84 | $13.15 | $12.09 | $12.47 | $11.86 | $10.36 | $10.77 | $10.22 | $11.79 | $11.24 | $9.70 | $8.63 | $11.50 |
| 1997 | $22.93 | $19.88 | $18.50 | $17.40 | $18.37 | $16.55 | $16.94 | $17.11 | $17.74 | $18.52 | $17.29 | $15.47 | $18.10 |
| 1996 | $15.91 | $15.79 | $18.04 | $20.25 | $18.94 | $18.27 | $19.06 | $19.72 | $21.99 | $22.78 | $21.38 | $22.79 | $19.57 |
| 1995 | $14.60 | $15.33 | $15.15 | $16.63 | $16.44 | $15.27 | $14.08 | $14.71 | $14.95 | $14.15 | $14.77 | $16.06 | $15.18 |
| 1994 | $11.19 | $10.92 | $10.88 | $12.67 | $14.52 | $15.76 | $16.32 | $14.81 | $13.91 | $14.22 | $14.55 | $13.65 | $13.60 |
| 1993 | $15.93 | $16.88 | $16.95 | $16.91 | $16.28 | $15.40 | $14.10 | $14.18 | $13.58 | $14.26 | $12.87 | $10.77 | $14.90 |
| 1992 | $16.18 | $16.19 | $16.08 | $17.19 | $17.92 | $19.22 | $18.56 | $18.18 | $18.79 | $18.63 | $17.26 | $16.31 | $17.51 |
| 1991 | $21.77 | $17.96 | $17.29 | $18.30 | $18.48 | $17.52 | $18.83 | $18.99 | $19.25 | $20.63 | $19.72 | $16.82 | $18.78 |
| 1990 | $20.00 | $19.72 | $18.19 | $16.18 | $15.95 | $14.37 | $16.03 | $24.48 | $30.88 | $33.21 | $29.46 | $24.47 | $21.94 |
| 1989 | $15.71 | $15.86 | $17.45 | $18.68 | $18.09 | $18.05 | $17.87 | $16.25 | $17.11 | $17.78 | $17.41 | $18.32 | $17.36 |
| 1988 | $15.27 | $14.89 | $14.53 | $15.72 | $15.87 | $15.03 | $13.76 | $13.64 | $13.17 | $12.11 | $11.93 | $13.74 | $14.08 |
| 1987 | $15.80 | $16.22 | $16.14 | $16.34 | $17.01 | $17.62 | $18.63 | $18.58 | $17.61 | $17.63 | $17.25 | $16.11 | $17.08 |
| 1986 | $24.26 | $17.06 | $12.85 | $11.44 | $12.20 | $12.28 | $10.35 | $11.99 | $13.15 | $12.73 | $12.65 | $13.30 | $13.70 |
| 1985 | $24.82 | $24.41 | $24.70 | $25.10 | $25.47 | $25.44 | $25.38 | $25.38 | $25.61 | $25.93 | $26.30 | $26.54 | $25.42 |
| 1984 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | $27.83 |
| 1983 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | $28.58 |
| 1982 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | $30.98 |
| 1981 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | $35.32 |
| 1980 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | $30.60 |
| 1979 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | $18.13 |
| 1978 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | $11.40 |
Sources: Petroleum Marketing Monthly. Energy Information Administration, Washington, DC. Nebraska Department of Environment and Energy, Lincoln, NE.
Notes: NA = Not Available. Numbers in red have been revised.