Oil prices were above 100 USD for the first few months after the Russia-Ukraine War escalated in Feb 2022, it peaked in June 2022, declined for a few months after that, WTI Crude has been fluctuating at high 60s-80s range since then.
And if you are thinking about petrol prices, there are other factors in play, petrol prices have been higher here, because Aus has basically bugger all Oil Refineries left (just Ampol in Brisbane and Viva in Geelong) meaning Australia imports a lot of it's fuel from overseas and then there's the lovely 49.6c fuel excise tax per litre and then throw in electricity costs on top of that.
So just because you pay more at the pump it should not be assumed that oil prices are higher, oil prices have not been above 100 USD for a while.
OOO Price at posting:
$19.36 Sentiment: None Disclosure: Not Held
