How Much Does CBD Cost? A 2020 Pricing Guide

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Did you know that 14% of Americans are currently using products containing cannabidiol?

Many users say that Cannabidiol, or CBD as it is also known, helps with several health problems, including insomnia, anxiety, and pain relief for people with arthritis.

Keep reading to learn more about cannabidiol, including how it can help you and what the average cannabis oil costs are.

What is CBD?

Cannabidiol is a nonpsychoactive component found in cannabis plants. This herbal remedy doesn’t give people a high like using marijuana does because it doesn’t contain tetrahydrocannabinol (THC). 

CBD is a legal substance that you can take if you want to relieve pain and other symptoms. CBD oil uses extracts of CBD from a cannabis plant, which is then diluted with an oil such as coconut or hemp seed oil.

There have been several scientific studies conducted that have found CBD oil can help to ease symptoms of chronic pain and anxiety.

According to Healthline, several studies have found that a combination of CBD and THC can be an effective method in treating pain for patients with multiple sclerosis and arthritis. 

Misconceptions of CBD

There are several misconceptions when it comes to CBD oil. One is that it is illegal. You can buy CBD legally at health shops and pharmacies. The Agriculture Improvement Act of 2018 updated its definition of marijuana to exclude hemp. This means products containing 0.3% or less delta-9 THC on a dry weight basis are legal. Having said this, some states don’t prohibit the purchasing of CBD oil, while others don’t have clear rulings on the matter. If you’re unsure, you should check with your current state laws.

Another common misconception is that you have to smoke or vape CBD. There are several ways you can take CBD and the products that contain it. You can ingest CBD or hold it under your tongue. You can also eat it or mix it into food and drinks. You can even rub it into your skin, as seen with shampoo and conditioning hair products containing CBD.

The third misconception is that you can’t drive or operate machinery if you’re taking CBD oil. This is not true. Driving on CBD oil that has 0.3% THC (delta-9-tetrahydrocannabinol) or less should be fine. You should take a dose when you don’t have anywhere to go before driving, however, to make sure that it doesn’t impact your ability to drive. 

Another misconception is that CBD oil takes a long time to work. The effects of the CBD oil and the time it takes to work all depend on the method of consumption and the person who is taking it. For example, the effects of CBD oil when placed under your tongue will be quicker then if you consume food with it in. If you do choose to take CBD in a drink or food, you should see the effects of it within 30 minutes or so.

How Much Does CBD Oil Cost?

The all-important question is how much does CBD oil cost? CBD oil prices can vary, depending on the product, the size, and the strength of the oil. In most instances, you will find shops selling CBD in 30ml bottles. Others may stock 15ml, or up to 60ml. 

You might find a 30ml bottle for $30, but you might also find a 30ml bottle selling for over $200. Several factors influence the cost of CBD oil, such as the quality of the CBD, brand positioning, and the place where you choose to purchase the oil.

The first and most important factor that influences the cost of CBD oil is quality. This can be broken down into four categories.

1. Potency

The potency of the oil is one influence in the overall quality of the product. The potency is also referred to as the strength of the CBD oil. The stronger the CBD oil, the more chance it has of effectively treating symptoms. 

It is worth considering why you’re taking the oil. For example, if you want to help boost your general health, a smaller dosage, such as 150mg tincture, might be okay for you. If you are using CBD oil to help control chronic pain, then you might want to use a higher dosage, such as 1500mg or 3000mg tincture. 

2. Extraction Method

There are several ways to extract CBD from the hemp plant. The most common methods include CO2 extraction, steam distillation, natural solvent extraction, or hydrocarbon extraction. 

CBD oils made using CO2 extractions tend to be the most efficient and thus are typically more costly than the other methods. Hydrocarbon extraction produces the cheapest CBD oils, however, these are less safe to use because of the risk of residue in the final hemp extract.

3. Where the Hemp Comes From

Another important quality factor is where the hemp comes from. This can significantly increase the prices of CBD oil. The best CBD oils come from hemp, which is organic, pesticide-free, and non-GMO. This type of hemp produces more expensive CBD oils, but they’re also better for you.

4. Third-Party Lab Testing

It is important to buy CBD oil from brands who ensure their product is safe to use. Brands who use third-party lab testing may price their CBD oil higher, but these third-parties are not biased and provide real feedback on the quality of the product.

Use Our Guide to Learn About CBD and the Average Cannabis Oil Costs

If you’re thinking about seeing whether CBD is right for you, be sure to follow our guide. Remember, cannabis oil costs will vary depending on several factors. If you aren’t sure about the product or the price, ask the retail assistant. 

If you found this article to be insightful, make sure you have a read of some of our other blogs all about money, tech, travel, and more.