OKLAHOMA CITY (AP) — Oklahoma's treasurer says low oil and natural gas prices helped push last month's state revenue below levels from a year earlier.
Treasurer Ken Miller said Wednesday the state's gross receipts in June were less than collections from the prior year for the second consecutive month and the fourth time in the fiscal year that ended June 30.
Miller says the state's economy is feeling the downturn in energy prices. He says gross production numbers have been below prior year collections for six consecutive months and the state may be experiencing a corresponding decline into other revenue streams, including motor vehicle and sales tax collections.
Collections in June were 3.9 percent less than in June 2014. Collections from oil and gas production dropped more than 54 percent below the prior year.