oil price per barrel % Change Price of oil yesterday $89.81 -6.78% Price of oil 1 month ago $72.65 +15.23% Price of oil 1 year ago $68.34 +22.50%Will oil prices go up? How oil prices translate to gas pump pricesThe price you see at the gas pump reflects more than just crude oil. But when oil prices decline, gas prices often ease down gradually, a behavior known as “rockets and feathers.” How oil and natural gas prices are linkedBoth oil and natural gas play key roles as major sources of energy. Historical performance of oilOil prices are often measured by two key benchmarks:Brent crude oil is the main global oil benchmark.