Gas Prices Up, Property Values Down
Written by Andrew-Rossi on August 14, 2017
Gas prices are up and property values are down – all thanks to the oil industry.
Gas prices have risen 12.5 cents per gallon in the last two weeks in Wyoming, according to the website GasBuddy.com. This week they average $2.35 per gallon – and senior petroleum analyst Patrick DeHaan says the Venezuela situation, hurricane season and declining U.S. oil inventories are to blame for the increase.
However, oil and gas prices have caused a decline in property values. Big Horn County’s valuation is down 6 percent, according to County Assessor Gina Anderson. An article in the Greybull Standard reports that this year’s valuation of $201.5 million dollars marks a new low for the county.
Anderson says the drop in oil and gas prices definitely had an impact on numbers – however, she says next year’s projections are looking good, so this should be the lowest the county will see.
