Cartoons about how expensive oil is don’t make much sense in the middle of an oil glut when oil prices have fallen to near historic lows when adjusted for inflation. GregT on Thu, 12th Mar 2015 10:35 pm Oil prices ajusted for inflation during non recessionary periods going back 130 years have hovered between 20 and 30 dollars a barrel. We are currently paying almost double those prices today.