Wyoming report shows continued mixed economic indicators in March

CASPER, Wyo. — The March 2025 issue of the Wyoming Insight report released by the State of Wyoming’s Economic Analysis Division is showing a mix of trends in the state’s economy. The report, attached below, serves as an energy index and business indicators summary. It’s also available on the division’s website.

Natural gas prices at Henry Hub averaged $4.13 per million British thermal units in March. That’s 10 cents lower than last month, but $2.64 higher than March 2024. The Opal Hub natural gas price averaged $2.74/MMBtu in March, a decrease of 69 cents from the previous month but an increase of $1.27 from March 2024.

Crude oil prices saw a drop. The West Texas Intermediate monthly average price for crude oil was $68.24 per barrel in March. That’s a 4.6% decrease from February and a 16% decrease from March 2024. In March, the average number of active oil rigs was 14, and the conventional gas rig count was two. This time last year, there were 10 oil rigs and one gas rig.

Total sales and use tax collections were down in March, totaling $62.3 million. That’s $2.7 million less, or a 4.1% decrease, compared to March last year.

“Sales and use tax collections have declined year-over-year in five of the last six months,” said Dylan Bainer, principal economist for Wyoming’s Economic Analysis Division.

Mining sector collections continued to fall, down $2.3 million, or 27.4%, year-over-year. That marks the 11th consecutive month of year-over-year decline for the mining sector.

The utilities sector saw a large increase, with collections of up $1.5 million, or 51.9%, year-over-year.

Total employment in Wyoming increased year-over-year. Employment totaled 297,000 jobs in February 2025, an increase of 3,700 jobs, or 1.3%, from February 2024.

“Total employment continues to grow, but at a moderating rate,” Bainer said.

The construction sector added the most jobs in February, with 1,500 new jobs, followed by the leisure and hospitality sector, which added 1,000.