Spring Peak in Gas Prices Over? Montana Motorists See Relief

Missoula, MT (KGVO-AM News) - Montana gasoline prices have slightly dropped three weeks in a row. Patrick De Haan is the head of petroleum analysis at GasBuddy and he provided the current numbers.             

“Average gasoline prices in Montana have fallen 1.1 cents per gallon in the last week, averaging $3.52 per gallon today,” De Haan said. “Prices in Montana are 4.4 cents per gallon lower than a month ago and stand 6.9 cents per gallon higher than a year ago.”           

As of Monday afternoon, many stations in Missoula had their prices set to around $3.54 per gallon.       

According to GasBuddy price reports, the cheapest station in Montana was priced at $3.28 per gallon yesterday while the most expensive was $3.99 per gallon.            

Montana is currently ranked 26th in the U.S. when it comes to the average price of gas, up two spots from last week.          

“The national average price of gasoline has fallen 1 cent per gallon in the last week, averaging $3.62 per gallon today,” De Haan said. “The national average is up 2.7 cents per gallon from a month ago and stands 11.1 cents per gallon higher than a year ago. The national average price of diesel has fallen 3.4 cents in the last week and stands at $3.94 per gallon.”        

READ MORE: Montana Gas Prices Ease Up: Expect Another Drop Soon

According to De Haan, oil prices have cooled and our spring peak appears to be more confidently behind us. 

"While refinery utilization rates last week indicated that there is still some refinery maintenance work to be done, oil prices have helped put downward pressure on gasoline prices, with oil falling below $80 per barrel last week,” De Haan said. “In addition, a weaker than expected jobs report is adding to some concerns that gasoline demand could remain weak through the summer driving season, which is just a few weeks from beginning.” 

Looking ahead, De Haan expects gasoline prices to continue to drop as we approach Memorial Day weekend.