Wyoming Oil Prices Drop, Tax Collections Hit Record High
The latest issue of Wyoming Insight has been released, providing valuable insights into the state's energy and economic trends. One notable development is the continued decline in oil prices, with the West Texas Intermediate (WTI) monthly average price for crude oil reaching $80.46 per barrel in July, a 5.1% drop from the previous month but still 17.6% higher than July 2025.
Natural gas prices also saw a decline, averaging $2.89 per million British thermal units (MMBtu) at the Henry Hub and $2.21/MMBtu at the Opal Hub in July, respectively.
On a more positive note, statewide sales and use tax collections exceeded $100 million for the first time, totaling $102.9 million in July, an 11.7% increase from last year. The mining sector saw significant growth, with a 48.0% increase in collections.