Fuel oil priced at $20 in 2003 $38.59 in 2021

Fuel Oil Inflation Calculator

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Prices for Fuel Oil, 2003-2021 ($20)

According to the U.S. Bureau of Labor Statistics, prices for fuel oil were 92.95% higher in 2021 versus 2003 (a $18.59 difference in value).

Between 2003 and 2021: Fuel oil experienced an average inflation rate of 3.72% per year. This rate of change indicates significant inflation. In other words, fuel oil costing $20 in the year 2003 would cost $38.59 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.03% during this same period, inflation for fuel oil was higher.

In the year 2003: Pricing changed by 22.51%, which is significantly above the average yearly change for fuel oil during the 2003-2021 time period. Compared to inflation for all items in 2003 (2.27%), inflation for fuel oil was much 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 86.562 130.262 125.823 111.531 136.638 160.000 216.362 244.585 262.597 365.000 240.197 282.932 367.804 376.126 370.234 365.008 254.318 209.182 241.714 296.064 282.408 218.008 263.641

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Buying power of $20 since 2003

Below are calculations of equivalent buying power for Fuel oil, over time, for $20 beginning in 2003. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
2003 $20.00 22.51%
2004 $23.42 17.10%
2005 $31.67 35.23%
2006 $35.80 13.04%
2007 $38.44 7.36%
2008 $53.43 39.00%
2009 $35.16 -34.19%
2010 $41.41 17.79%
2011 $53.84 30.00%
2012 $55.05 2.26%
2013 $54.19 -1.57%
2014 $53.43 -1.41%
2015 $37.22 -30.33%
2016 $30.62 -17.75%
2017 $35.38 15.55%
2018 $43.34 22.49%
2019 $41.34 -4.61%
2020 $31.91 -22.80%
2021 $38.59 20.93%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for fuel oil, 2003-2021

Start with the inflation rate formula:

CPI in 2021 / CPI in 2003 * 2003 USD value = 2021 USD value

Then plug in historical CPI values from above. The CPI for Fuel oil was 136.638 in the year 2003 and 263.641 in 2021:

263.641 / 136.638 * $20 = $38.59

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2003 has the same "purchasing power" as $38.59 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.

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