Fuel oil and other fuels price history from 2016 through 2020

Fuel Oil And Other Fuels Inflation Calculator

Prices for Fuel Oil And Other Fuels, 2016-2020 ($20)

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.

Price Inflation for Fuel oil and other fuels since 1984

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

Years with the largest changes in pricing: 2018 (193.49%), 1990 (21.54%), and 1986 (-19.05%).

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

Year	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
CPI	99.367	95.900	77.633	77.867	78.100	81.700	99.300	94.633	90.700	90.300	88.800	88.100	99.200	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	99.833	292.999	280.791	244.024

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Buying power of $20 since 2016

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
2016	$20.00	-
2017	$20.00	0.00%
2018	$58.70	193.49%
2019	$56.25	-4.17%
2020	$48.89	-13.09%*

* Not final. See inflation summary for latest details.

How to calculate the inflation rate for fuel oil and other fuels, 2016-2020

Start with the inflation rate formula:

CPI in 2020 / CPI in 2016 * 2016 USD value = 2020 USD value

Then plug in historical CPI values from above. The CPI for Fuel oil and other fuels was 99.833 in the year 2016 and 244.024 in 2020:

244.024 / 99.833 * $20 = $48.89

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $48.89 in 2020 (in the CPI category of Fuel oil and other fuels).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Fuel oil and other fuels in 1984. In addition to fuel oil and other fuels, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.