The May 2025 edition of Wyoming Insight, a monthly energy and business indicators report published by the state’s Economic Analysis Division, reveals a mix of economic trends, with oil prices reaching multi-year lows, natural gas prices holding relatively steady, and employment continuing to grow, Wyoming Tribune Eagle reports.
According to the report, the average price of West Texas Intermediate (WTI) crude oil dropped to $62.17 per barrel in May—the lowest level since April 2021. This marks a 2.2% decrease from April 2025 and a 22.4% decline compared to May 2024. The number of active oil rigs in the state remained at 11, while gas rigs increased slightly to three, up from one a year ago.
Natural gas prices showed mixed trends. At the Henry Hub, the monthly average was $3.12 per million British thermal units (MMBtu), down $0.29 from the previous month but nearly a dollar higher than in May 2024. The Opal Hub price averaged $2.22/MMBtu, up $0.24 from April and $0.88 higher year-over-year.
On the tax revenue front, total sales and use tax collections in May reached $70 million, a modest 0.9% increase compared to the same month last year. This marks the first year-over-year growth in this category since January. The largest gains were observed in the financial activities sector—primarily vehicle, machinery, and equipment leasing—up 57.7% from a year ago. However, mining sector tax collections continued to decline for the 13th consecutive month, falling by $0.8 million or 9.6% year-over-year.
Employment data showed continued strength, with Wyoming recording 297,100 jobs in April 2025, up 3,900 positions (1.3%) from April 2024. The construction sector led job growth, adding 1,400 jobs over the year. In contrast, the federal government sector experienced the largest decline, shedding 300 jobs.
“Total employment continues to grow, but at a moderating rate,” said Dylan Bainer, principal economist with the state’s Economic Analysis Division.
The full Wyoming Insight report is available online at ai.wyo.gov/divisions/economic-analysis.
