The benchmark crude oil barrel tracked by the Central Bank of West African States (BCEAO) averaged CFAF55,643 in September 2026, up from CFAF36,636 a year earlier. The increase amounts to CFAF19,007 per barrel, according to the central bank’s monthly statistical bulletin released on 6 November. The quoted year-on-year rise in CFA franc terms was 51.9%.
That increase exceeds the 48.7% annual rise in US dollars for the average of the WTI and Brent benchmarks. The dollar price climbed from $65.5 in September 2025 to $97.5 in September 2026. The difference between the two reported annual growth rates is 3.2 percentage points.
In %, year-on-year
Source: BCEAO, September 2026 Monthly Statistical Bulletin, Table 1.1.2.1, p. 7.
| In US dollars | In CFA francs | |
|---|---|---|
| March 2026 | 35.5 | 26.6 |
| April 2026 | 55 | 48.7 |
| May 2026 | 62 | 56.6 |
| June 2026 | 21.4 | 21.3 |
| July 2026 | 18.1 | 20.8 |
| August 2026 | 29 | 29.5 |
| September 2026 | 48.7 | 51.9 |
The dollar affects converted oil quotations
The BCEAO reports an average exchange rate of CFAF568.6 to the US dollar in September, compared with CFAF559.1 in September 2025, a 1.7% annual increase. The exchange-rate and oil-price averages are aggregated and rounded, so multiplying the published figures does not exactly reproduce every reported annual rate.
The monthly series shows sharp fluctuations. The average barrel price reached CFAF56,765 in May 2026 before dropping to CFAF46,293 in July. It rebounded to CFAF47,860 in August and CFAF55,643 in September. Between the last two months, the calculated increase was CFAF7,783, or 16.3%.
In CFAF per barrel
Source: BCEAO, September 2026 Monthly Statistical Bulletin, Table 1.1.2.1, p. 7. Brent-WTI price quoted in CFA francs.
| CFAF per barrel | |
|---|---|
| March 2026 | 53,258 |
| April 2026 | 55,738 |
| May 2026 | 56,765 |
| June 2026 | 47,291 |
| July 2026 | 46,293 |
| August 2026 | 47,860 |
| September 2026 | 55,643 |
An international benchmark, not the pump price
The figures cover a benchmark crude oil barrel on international markets. They do not measure petrol-station prices in the eight WAEMU countries, crude oil import volumes or the actual fuel-import bills paid by individual governments.
In the same bulletin, WAEMU consumer price inflation rose from 1.3% year on year in August to 1.9% in September 2026. The transport component recorded annual price growth of 5.8%, up from 4.6% in August. Those measures track prices paid by households and are distinct from international crude oil quotations.