Wyoming Natural Gas Price Drops To $2.75
LARAMIE, Wyo. (AP) — Wyoming natural gas prices have dropped even more.
The state's Economic Analysis Division said Tuesday that gas at Wyoming's Opal Hub is selling at $2.75 per thousand cubic feet. State economists estimated back in October that gas would sell at $4. They later revised revenue estimates downward based on a projected average price of $3.25.
Jim Robinson is the senior economist for the state's Economic Analysis Division. He told Wyoming Public Radio (http://bit.ly/ApVsA2) that the price has dropped because of warmer winter weather and abundant supplies.
Economists expect the state will have $164 million less money to spend over the next few years because of the price decline.
A legislative committee voted last week to set aside $150 million in case the state ends up short on revenue next year.