Bad Economic News May Lead to Lower Pump Prices
Bad economic news this week in both the U.S. and Europe could have a direct effect on Montana’s gas prices. Petroleum analyst with GasBuddy.com, Patrick Dehaan says “When it’s bad news on the economy well, then it’s good news for motorists.” Dehaan points to the Greek debt crisis and recent domestic reports showing unemployment rates higher than expected as a potential cause in the dropping price of fuel.
Average retail gasoline prices in Montana have fallen nearly three cents per gallon in the past week, averaging three dollars and sixty nine cents. Montana is still chasing the national average price which has been in free fall for multiple weeks in a row and is already down to three dollars and fifty three cents per gallon.
Petroleum analyst Patrick Dehaan explains how bad economic news leads to lower gas prices: