U.S. crude oil prices: annual average domestic first purchase prices 1975-2017

The data describes the annual average U.S. domestic first purchase price for crude oil from 1975 to 2017. In 2017, the average price for domestic crude oil stood at about 48 nominal USD per barrel. According to the source, nominal prices reflect the price paid for a product or service at the time of the transaction; these prices have not been adjusted to remove the effect of changes in the purchasing power of the dollar.