Current price of oil as of May 15, 2026

As of May 15, 2026, the price of oil has risen to $111.04 per barrel, marking a significant increase of $3.22 from the previous day and a notable $46 increase compared to the same time last year. Various factors, including economic conditions and geopolitical events, continue to influence oil prices, making future predictions challenging. The article also hints at the relationship between crude oil prices and gas prices at the pump.