According to the U.S. Bureau of Labor Statistics, prices for fuel oil and other fuels were 16.72% lower in 2020 versus 2018 (a $3.34 difference in value).
Between 2018 and 2020: Fuel oil and other fuels experienced an average inflation rate of -8.74% per year. This rate of change indicates significant deflation. In other words, fuel oil and other fuels costing $20 in the year 2018 would cost $16.66 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.37% during this same period, inflation for fuel oil and other fuels was significantly lower.
In the year 2018: Pricing changed by 193.49%, which is significantly above the average yearly change for fuel oil and other fuels during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), inflation for fuel oil and other fuels was much higher.
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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|