Alaska oil prices are dropping. Last week they hit a low not seen in four years. With Alaska’s budget wedded to oil revenue, the trend will impact the state’s bottom line.
Prices came in at $82.82 per barrel Oct. 16, and since then have perked up to $83.09, the most recent price point in a steady slump that began in August. Before then, prices had been level for several years, hovering in the low-$100 range, and starting the current fiscal year at a healthy $111.56 per barrel. In June, prices hit $113 per barrel, the highest in nine months.