Current price of oil as of October 12, 2026
Source: Fortune ·
When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.
From the source
As of 6:45 a.m. Eastern Time today, oil sold for $108.04 per barrel (using Brent as the benchmark, which we’ll get into momentarily). That’s $2.32 higher than yesterday morning and approximately a $44.50 rise over the past year. Oil price per barrel% ChangePrice of oil yesterday$105.72+2.19%Price of oil 1 month ago$106.02+1.90%Price of oil 1 year ago$63.49+70.16% Will oil prices go up? It’s impossible to predict the future of oil prices. Several factors determine the movement of oil, but it ultimately boils down to supply and demand. Again, when threats of economic downturn, war, etc. are high, the oil trajectory can turn rapidly. How oil prices translate to gas pump prices When you pay for gas at the pump, you’re paying for more than just the crude oil itself; you’re also springing for links along the chain, such as the refineries and wholesalers—not to mention taxes and local gas station markups. Still, the crude oil aspect affects the final price most dramatically, as it typically…