$100 Oil Prices Deliver Windfall for Alaska's Treasury

The price of North Slope crude oil has topped $100 per barrel for the first time since June, according to figures published by the Alaska Department of Revenue. The high cost of crude oil due to the Iran war is causing a significant increase in state revenue, benefiting Alaska's treasury.

Preliminary figures show that the state earned just under $7 billion in general-purpose revenue during Fiscal Year 2026, which ended June 30. This estimate is more than $500 million above a prediction from March and another $500 million higher than a forecast from last fall.

The wartime windfall means an extra $128 million for Permanent Fund dividends, enough to raise this year's payment to $1,200 per recipient. The payments will start on October 1st.