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‹ Analysis & Projections

Short-Term Energy Outlook

Release Date: Jul. 9, 2024  |  Forecast Completed: Jul. 3, 2024  |  Next Release Date: Aug. 6, 2024  |  Full Report    |   Text Only   |   All Tables   |   All Figures

Real Prices Viewer

Real Petroleum Prices are computed by dividing the nominal price in a given month by the ratio of the Consumer Price Index (CPI) in that month to the CPI in some "base" period. The Real Petroleum Prices spreadsheet and charts are updated every month so that the current month is the base period in the monthly price series. Consequently, all real prices are expressed in "current" dollars and any current month price may be compared directly with any past or projected real prices.

Download all real and nominal price series to an Excel Spreadsheet (Excel xlsx file)

Data Sources
Imported Crude Oil Price (refiner average imported crude oil acquisition cost)
1968 - Present: EIA Petroleum Marketing Monthly
Motor Gasoline Regular Grade Retail Price (including taxes)
1976 - 1990: EIA Monthly Energy Review
1991 - Present: EIA Weekly Petroleum Status Report
On-Highway Diesel Fuel Price (including taxes)
1979 - 1993: EIA estimates based on refiner end-use diesel fuel price (excluding taxes) from EIA Monthly Energy Review
1994 - Present: EIA Weekly Petroleum Status Report
Heating Oil Price (No. 2 distillate oil, including taxes)
1975 - Present: U.S. Bureau of Labor Statistics (BLS), consumer price survey
Residential Natural Gas Price (including taxes)
1967 - 1980: EIA Annual Energy Review
1981 - Present: EIA Natural Gas Monthly
Residential Retail Electricity Price (including taxes)
1960 - 1975: EIA Annual Energy Review
1976 - Present: EIA Monthly Energy Review
Consumer Price Index (all urban consumers)
1960 - Present: U.S. Bureau of Labor Statistics
All Energy Prices
EIA Short-Term Energy Outlook model
Consumer Price Index
IHS Global Insight macroeconomic model

Real Price Calculation Procedure
Real Price in Month A = Nominal Price in Month A x (Consumer Price Index in Base Month / Consumer Price Index in Month A).
The "base" month is the current month of the EIA Short-Term Energy Outlook.