According to the U.S. Bureau of Labor Statistics, prices for fuel oil and other fuels were 144.43% higher in 2020 versus 2016 (a $28.89 difference in value).
Between 2016 and 2020: Fuel oil and other fuels experienced an average inflation rate of 25.04% per year. This rate of change indicates significant inflation. In other words, fuel oil and other fuels costing $20 in the year 2016 would cost $48.89 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.85% during this same period, inflation for fuel oil and other fuels was significantly higher.
In the year 2016: Pricing changed by 0%, which is significantly below the average yearly change for fuel oil and other fuels during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for fuel oil and other fuels was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Fuel oil and other fuels:
Below are calculations of equivalent buying power for Fuel oil and other fuels, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|