Are you ready to try CBD products but aren’t sure about their prices? Do you want to save more on CBD oil products? What’s the average price of CBD oil in the US?
A 2019 survey found that 14% of US adults use CBD oil products while 35% aren’t familiar with them. If you’re unfamiliar with it, Cannabidiol or CBD oil is one of the top wellness trends from last year. Now, you can find it in salons, spas, and as supplements.
In this guide, we’ll focus on the average price of CBD oil. We’ll also discuss how to calculate CBD prices below. Keep reading to learn more about the value of CBD oil.
What Factors Affect the Price of CBD Oil?
The cost of CBD oil will depend on its hemp quality, third-party testing, and brand positioning. Let’s take a moment to dive into each factor, starting with a few precautions.
Claims aren’t always reflective of the costs of CBD oil products. Experts want buyers to beware of research and claims with unsubstantiated backgrounds. Despite this, most FDA-approved CBD oils are safe and effective.
For example, various CBD oil brands offer different CBD potencies or strengths. The stronger oil you want your CBD oil, the higher its price will be.
Some manufacturers put a lower price per mg for oils with more strength. It’s a marketing tactic that will make more money for them. Note that getting higher strength oil can last longer and cost less if you need a lower dose.
The extraction method used to take the CBD from the plant also affects its price. CO2 extraction, steam distillation, and natural solvent extraction are the common methods used. Hydrocarbon extraction is a cheaper method, but it’s also risky because the toxic residue may remain in the oil.
Like other products, brands use hemp in varieties of quality and from various sources. The best and more expensive CBD oils come from organic, non-GMO, and pesticide-free hemp. Some brands that sell cheaper CBD oils may take organic hemp from European farms.
Learning to Calculate CBD Prices
If you plan to become a regular user of CBD oils, it’ll help if you know how to calculate the prices per mg. This way, you know how much you’re paying for per mg. You can also use this knowledge to compare CBD oil prices per brand.
To calculate, you first need to know the amount of CBD oil in a bottle and the price of the bottle. Next, it’s as simple as dividing numbers. Divide the price by the total amount of CBD in milligrams. You end up with the price of the CBD oil per milligram.
For example, you bought a 300mg bottle for $29.99. Divide 29.99 by 300 and you get 0.0999666777. Round that up to the nearest tenths and your answer is 0.1.
For that brand, bottle, and price, you bought each milligram for $0.1. You can use this formula the next time you want to check if you’re overpaying for CBD or if you’re getting a decent deal.
What’s the Average Price of CBD Oil?
Let’s take what we now know from the production of CBD oil to see what the average CBD oil price should be. So, what’s the average price of CBD oil?
On average, the mid-range or good CBD oil tinctures cost $0.09 to $0.17 per mg. Those that cost between $0.05 and $0.08 per mg are low-end oils. In contrast, premium CBD oils will sell for over $0.20 or even $0.30 per mg.
CBD oils with higher potency will cost less per mg than lower-potency oils. Don’t forget that the bottle also costs a bit and this can increase the selling price too.
For example, a 300mg tincture will cost from $30 to $120. A 1500mg CBD oil tincture may sell between $100 and $250.
It helps to know the right CBD oil price if you also want to know how much other CBD products cost. You can use it as a basis of comparison. However, remember that CBD oils have a different production method than other products.
Finding Affordable CBD Oil Prices
Check everything from online stores to local dispensaries. It pays to shop around for the best deals before you buy CBD oil. It’ll help you find stores that sell decent CBD oils for more affordable prices.
Again, don’t buy CBD oils because they have a lower price tag and have bigger bottles. Take time in calculating its price per mg instead. Your wallet will also feel better if you buy CBD oil in larger quantities.
Don’t be afraid to try money-saving tactics. For example, you don’t want to pass up these coupons for Lazarus Naturals oils. You never know when you’ll find them again.
Don’t care much about what you’re using as long as it’s CBD? Start vaping. It has the highest bioavailability and is the most affordable method. Using tinctures only come as the second-most cost-effective way of using CBD after vaping.
You’d need to buy all the accessories that come with vaping or get disposable vape pens. Disposable vape pens and cartridges can be more expensive. It’s cheaper to buy e-liquids for existing cartridges.
Get Good CBD for Each Buck
We hope this guide provided the answers but even then, it always pays to be a smart shopper. This applies even for leisure-time activities like using CBD.
Never jump the gun whenever you find new products at cheaper prices. Always learn to take a step back and do your math first. Also, remember that with CBD, you want to look at the price per mg rather than the price of each bottle.
That’s our guide to answer “what’s the average price of CBD oil” and more. If you want to see more content on CBD, feel free to check out our other guides.