Tap on your Clock Widget to open up the World Clock settings.
Tap the Menu button.
Tap Local time settings.
Check to see if "Automatic" is checked. If it is, it should automatically provide your phone with your location and proper time zone. If it is checked and it does not provide the proper time zone and time, then un-check it and set the date, time zone and time manually.
You may also want to go to Settings / Location to make sure that "Use Wireless networks" and "Location Setting" are checked. They should be by default - but you never know.
ALSO - If you set your home city, you may have set it to Oakland, CA - instead of Oakland, MD. The clock widget will always display your home time settings. If they don't have an option for your home city, simply set it to a city that IS in your time zone. HTC decided not to include half of US cities in this option...