Current price of oil as of August 17, 2026

As of August 17, 2026, oil sold for $91.53 per barrel using Brent as the benchmark, marking a rise over the past year. Oil prices are influenced by global supply and demand, with major benchmarks including Brent crude oil and West Texas Intermediate (WTI). The final cost of gasoline includes not only the crude oil component but also taxes and markups from wholesalers and refineries.