The New Year Is Expected To Bring Higher Gas Prices To Montana

Gas prices in Montana continue to increase along with the rest of the nation. Gasbuddy.com Petroleum Analyst Patrick DeHaan says the New Year will also bring new prices.

“Average prices we have seen in Montana up just about two cents a gallon in the last week, currently at $2.20 which is about 19 cents higher than a year ago,” said DeHann. “Thankfully we haven’t seen a big increase in Montana that we have nationally. The national average is up by about 16 cents a gallon in the last month all thanks to OPEC cutting oil production back in November 30.”

Russia is one of the largest oil producers in the world and they agreed to go along with what OPEC is implementing. As a result, oil prices per barrel have almost doubled in the past 10 months.

“It looks like we will be on the road to higher prices for much of 2017,” DeHann said. “Over the course of 2017 prices at the pump might average 20 to 30 cents higher than where we have seen them this year. Unfortunately, not a whole lot of good news as we enter the New Year ahead, but certainly there are some possibilities that could limit how high gas prices go.”

According to DeHann, President Elect Trump’s Administration seems to be very pro oil and that could result in a shift for what is expected at the pump for the upcoming year.