Current price of oil as of October 14, 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
At 7:15 a.m. Eastern Time today, the price of oil sits at $108.70 per barrel, using Brent as the benchmark (we’ll explain what that means shortly). That’s an increase of $1.41 since yesterday morning and roughly $46 more than at this time last year. oil price per barrel% ChangePrice of oil yesterday$107.29+1.31%Price of oil 1 month ago$109.19-0.44%Price of oil 1 year ago$62.54+73.80% Will oil prices go up? Nobody can predict the future path of oil prices with certainty. A range of factors influence how oil trades, yet supply and demand remain the main drivers. When fears of economic slowdown, conflict, or similar shocks rise, oil prices can move sharply. How oil prices translate to gas pump prices The price you see at the gas pump reflects more than just crude oil. Also built in are the costs of refining, distribution through wholesalers, various taxes, and the margin your neighborhood station charges. Crude oil is still the largest single driver of the final pump price, typically…