Here's how much energy prices rose in 2021
December 26, 2021 06:30 AM
By Jeremy Beaman
Prices for just about everything went up in 2021 as economies recovered from the worst of the coronavirus pandemic and demand outpaced supply, driving high-profile debates about inflation and global supply chains.
Higher costs for energy are a central variable to that equation, as the prices of oil, gas, and other fuels are embedded in the cost of everything, from the manufacturing and moving of products to generating electricity.
Here's how much energy prices went up over the last year:
Oil
On its first trading day of 2021, global benchmark Brent crude closed at $51.09 per barrel. Despite a series of peaks and valleys, Brent grew significantly over the year's course and hit a high of $86.40 on Oct. 26. That amounts to a 69% increase, and compared to the final week of October 2020, Brent saw a year-over-year rise of 125%.
U.S. benchmark West Texas Intermediate began the year at $47.62 per barrel, also peaking on Oct. 26 at $84.65, a nearly 78% increase.
https://www.washingtonexaminer.com/restoring-america/faith-freedom-self-reliance/how-much-energy-prices-changed-in-2021
