The other issue is that oil is freakishly low and if (when) it goes back to $110 per barrel then we (international) will likely be losing money again
What does the data say?
For more information see
Annual Average Oil Prices in Table Form.
The red line on the chart shows oil prices adjusted for inflation in January 2014 dollars. The black line indicates the nominal price (in other words the price you would have actually paid at the time).Current prices as of December 17th 2014 are $49.50 down significantly from recent highs but still above the average inflation adjusted price of $41.70 from 1946 - 2014.
source:
InflationData: Historical Oil Prices Chart
