From the federal reserve bank of st louis you collect the

Question

From the Federal Reserve Bank of St Louis you collect the following data:

Period              Price of oil ($ per barrel) Consumer Price Index

1965                        2.920                                31.7

1979                        21.750                              73.1

2002                         29.420                             180.9

2006                         70.940                              202.5

In real terms, in what year was crude oil was more expensive? Show your calculations and provide a brief explanation.