The following table shows the average price per barrel of crude oil in the given year: In what year was crude oil most expensive (adjusted for inflation)? Use the following inflation table.

A)1970
B)1980
C)2000
D)2010

Question

The following table shows the average price per barrel of crude oil in the given year:  In what year was crude oil most expensive (adjusted for inflation)? Use the following inflation table.

A)1970 
B)1980 
C)2000 
D)2010

Quizplus · Accepted Answer

When adjusting for inflation using the given table, the highest average price per barrel of crude oil occurred in 1980 at a value of $109.56 in 2020 dollars. The other years listed do not have an average price per barrel that surpasses this amount when adjusted for inflation.

The Following Table Shows the Average Price Per Barrel of Crude