Montana gas prices far below national average

Nick Chrestenson

(KGVO) Gasoline prices in Montana continue to fall and are now firmly below the national average, according to Patrick De Haan, head of petroleum analysis at GasBuddy.

“Average gasoline prices in Montana have fallen 4.1 cents per gallon in the last week, averaging $2.87 per gallon today,” De Haan said. “Prices in Montana are 8.5 cents per gallon lower than a month ago and stand 13.3 cents per gallon lower than a year ago.”

Montana is currently 23rd in the U.S. when it comes to the average price of gas.

“The national average price of gasoline has risen 0.6 cents per gallon in the last week, averaging $3.04 per gallon today,” De Haan said. “The national average is down 1.4 cents per gallon from a month ago and stands 23.9 cents per gallon lower than a year ago. The national average price of diesel has fallen 2.0 cents in the last week and stands at $3.89 per gallon.” 

According to De Haan, last week was a bit of a mixed bag for gasoline prices. He said prices increased early on but fell again in recent days as the situation in the Red Sea continues to drive market volatility.

"While last week saw the U.S. attacking Houthi militants engaged in attacks on vessels in the Red Sea, oil prices jumped, but then promptly fell as economic concerns with weak demand sapped the upward move after the U.S. and allies attacked Houthi rebels,” De Haan said.

“Gasoline inventories also saw another large rise, putting some downward pressure on gas prices, and leaving an opportunity for the national average to potentially briefly fall below $3 per gallon. We'll have to see if the stars finally align for such a move." 

GasBuddy data is compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.