Current price of oil as of October 13, 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 7:45 a.m. Eastern Time today, oil is trading at $107.29 per barrel, based on the Brent benchmark we’ll explain in a bit. That’s 75 cents below yesterday morning’s level and about $44 higher than where it stood a year ago. Oil price per barrel% ChangePrice of oil yesterday$108.04-0.69%Price of oil 1 month ago$106.02+1.19%Price of oil 1 year ago$63.69+68.45% Will oil prices go up? No one can say for sure where oil prices will go next. Many forces shape the market—but at the core, it’s still about supply and demand. When risks like a potential recession or war ramp up, oil prices can change direction quickly. How oil prices translate to gas pump prices When you buy gas at the pump, you’re covering more than the cost of crude oil. You’re also paying for every step in the process, including refineries, wholesalers, taxes, and the markup your local gas station adds. Even so, crude oil has the biggest influence on what you pay, often making up more than half the cost per gallon. When…