Same thing happened to whale oil when it got scarce:
Over a span of 35 years which embraced the Civil War, whale oil ranged from 30 1/2¢ per gallon to $1.92 according to the following prices which are taken from Eaton's book, "Petroleum", 1866:
|
1831 |
$0.30 |
1/2 gallon |
||
|
1843 |
$0.63 |
1/2 gallon |
||
|
1854 |
$1.92 |
1/2 gallon |
||
|
1866 |
$1.28 |
1/2 gallon |
Another source mentions that the average price from 1845 to 1855 was $1.77 per gallon (Stotz, 1938).
In the war year 1864, the price per 35 gallon barrel was $67.20. It is not known if this is sperm whale oil or oil from any species.
Sperm whale oil commanded a higher price just like better tubes.
If it's not one thing, it's another.
All the best,
Nonoise
