Motor oil, coolant, and fluids price inflation, 2023→2024

Motor Oil, Coolant, And Fluids Inflation Calculator

Prices for Motor Oil, Coolant, And Fluids, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for motor oil, coolant, and fluids are 1.16% lower in 2024 versus 2023 (a $0.23 difference in value).

Between 2023 and 2024: Motor oil, coolant, and fluids experienced an average inflation rate of -1.16% per year. In other words, motor oil, coolant, and fluids costing $20 in the year 2023 would cost $19.77 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.89% during this same period, inflation for motor oil, coolant, and fluids was significantly lower.

In the year 2023: Pricing changed by 4.59%, which is significantly above the average yearly change for motor oil, coolant, and fluids during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for motor oil, coolant, and fluids was higher.

Price Inflation for Motor oil, coolant, and fluids since 1977

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

Years with the largest changes in pricing: 1980 (18.91%), 2008 (16.41%), and 2022 (16.41%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Motor oil, coolant, and fluids, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2023	$20.00	4.59%
2024	$19.77	-1.16%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Motor oil, coolant, and fluids:

Year	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	2022	2023	2024
CPI	65.300	67.054	72.769	86.531	94.531	98.746	100.800	100.485	102.254	101.962	100.300	104.254	110.238	111.385	119.415	118.185	118.054	121.408	128.423	131.885	131.692	131.092	131.077	137.985	147.208	153.192	157.123	165.331	182.762	212.692	231.138	269.078	294.293	305.384	334.564	359.596	360.885	367.002	369.021	367.099	374.485	389.905	394.964	394.338	405.966	472.567	494.249	488.538

Adjust motor oil, coolant, and fluids prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Motor oil, coolant, and fluids was 494.249 in the year 2023 and 488.538 in 2024:

488.538 / 494.249 * $20 = $19.77

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $19.77 in 2024 (in the CPI category of Motor oil, coolant, and fluids).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Motor oil, coolant, and fluids in 1977. In addition to motor oil, coolant, and fluids, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.