Fuel oil price history from 1935 through 2021

Fuel Oil Inflation Calculator

Prices for Fuel Oil, 1935-2021 ($20)

According to the U.S. Bureau of Labor Statistics, prices for fuel oil were 4,708.19% higher in 2021 versus 1935 (a $941.64 difference in value).

Between 1935 and 2021: Fuel oil experienced an average inflation rate of 4.61% per year. This rate of change indicates significant inflation. In other words, fuel oil costing $20 in the year 1935 would cost $961.64 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 3.51% during this same period, inflation for fuel oil was higher.

Price Inflation for Fuel oil since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1974 (58.29%), 2000 (50.48%), and 1979 (40.38%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Fuel oil:

Year	1935	1936	1937	1938	1939	1940	1941	1942	1943	1944	1945	1946	1947	1948	1949	1950	1951	1952	1953	1954	1955	1956	1957	1958	1959	1960	1961	1962	1963	1964	1965	1966	1967	1968	1969	1970	1971	1972	1973	1974	1975	1976	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021
CPI	5.575	5.800	6.800	6.340	5.840	6.086	6.300	7.231	7.800	7.846	7.469	7.562	8.800	11.520	10.860	11.040	11.620	11.900	12.508	12.592	13.023	13.638	14.338	13.515	13.715	13.469	14.015	14.008	14.315	14.000	14.285	14.654	15.138	15.600	15.938	16.546	17.569	17.623	20.362	32.231	34.908	37.408	42.400	44.915	63.054	87.723	107.323	105.000	96.500	98.515	94.577	74.077	75.815	75.769	80.338	98.638	92.408	87.969	87.215	85.638	84.754	97.015	96.862	84.838	86.562	130.262	125.823	111.531	136.638	160.000	216.362	244.585	262.597	365.000	240.197	282.932	367.804	376.126	370.234	365.008	254.318	209.182	241.714	296.064	282.408	218.008	268.057

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Buying power of $20 since 1935

Below are calculations of equivalent buying power for Fuel oil, over time, for $20 beginning in 1935. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
1935	$20.00	-
1936	$20.81	4.04%
1937	$24.39	17.24%
1938	$22.74	-6.76%
1939	$20.95	-7.89%
1940	$21.83	4.21%
1941	$22.60	3.52%
1942	$25.94	14.77%
1943	$27.98	7.87%
1944	$28.15	0.59%
1945	$26.80	-4.80%
1946	$27.13	1.24%
1947	$31.57	16.38%
1948	$41.33	30.91%
1949	$38.96	-5.73%
1950	$39.61	1.66%
1951	$41.69	5.25%
1952	$42.69	2.41%
1953	$44.87	5.11%
1954	$45.17	0.68%
1955	$46.72	3.42%
1956	$48.93	4.73%
1957	$51.44	5.13%
1958	$48.49	-5.74%
1959	$49.20	1.48%
1960	$48.32	-1.79%
1961	$50.28	4.05%
1962	$50.25	-0.05%
1963	$51.36	2.20%
1964	$50.22	-2.20%
1965	$51.25	2.03%
1966	$52.57	2.58%
1967	$54.31	3.31%
1968	$55.96	3.05%
1969	$57.18	2.17%
1970	$59.36	3.81%
1971	$63.03	6.18%
1972	$63.22	0.31%
1973	$73.05	15.54%
1974	$115.63	58.29%
1975	$125.23	8.31%
1976	$134.20	7.16%
1977	$152.11	13.35%
1978	$161.13	5.93%
1979	$226.20	40.38%
1980	$314.70	39.12%
1981	$385.02	22.34%
1982	$376.68	-2.16%
1983	$346.19	-8.10%
1984	$353.42	2.09%
1985	$339.29	-4.00%
1986	$265.75	-21.68%
1987	$271.98	2.35%
1988	$271.82	-0.06%
1989	$288.21	6.03%
1990	$353.86	22.78%
1991	$331.51	-6.32%
1992	$315.58	-4.80%
1993	$312.88	-0.86%
1994	$307.22	-1.81%
1995	$304.05	-1.03%
1996	$348.04	14.47%
1997	$347.49	-0.16%
1998	$304.35	-12.41%
1999	$310.53	2.03%
2000	$467.31	50.48%
2001	$451.38	-3.41%
2002	$400.11	-11.36%
2003	$490.18	22.51%
2004	$573.99	17.10%
2005	$776.18	35.23%
2006	$877.43	13.04%
2007	$942.05	7.36%
2008	$1,309.42	39.00%
2009	$861.69	-34.19%
2010	$1,015.00	17.79%
2011	$1,319.48	30.00%
2012	$1,349.33	2.26%
2013	$1,328.19	-1.57%
2014	$1,309.45	-1.41%
2015	$912.35	-30.33%
2016	$750.43	-17.75%
2017	$867.14	15.55%
2018	$1,062.11	22.49%
2019	$1,013.12	-4.61%
2020	$782.09	-22.80%
2021	$961.64	22.96%*

* Not final. See inflation summary for latest details.

How to calculate the inflation rate for fuel oil, 1935-2021

Start with the inflation rate formula:

CPI in 2021 / CPI in 1935 * 1935 USD value = 2021 USD value

Then plug in historical CPI values from above. The CPI for Fuel oil was 5.575 in the year 1935 and 268.057 in 2021:

268.057 / 5.575 * $20 = $961.64

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1935 has the same "purchasing power" as $961.64 in 2021 (in the CPI category of Fuel oil).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Fuel oil in 1935. In addition to fuel oil, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.