Record High Gasoline Inventory Keeps Prices Down

Normally, this time of summer would send gas prices rising with increased demand, but senior petroleum analysis Will Speer says that’s not happening this year.

“With the summer driving season low prices compared to where we’ve been the passed two years its really gotten people out on the roads," Speer said. "Because of that we’ve seen prices be a bit more stingy, all of this demand has kinds of kept prices in a holding pattern."

Speer doesn’t expect prices at the pump to see drastic changes any time soon.

“For Montana I do expect gas prices to drop just slightly,” Speer said. “We’re still in the more expensive blend of summer gasoline. So because of that it’s going to be hard time for refineries to give much of a bargain on the barrels of gasoline they’re giving. They’re not going to be able to pass along the savings to motorists, unfortunately.”

The law of supply and demand is at work. Although demand is up, supply is up even more so, with July posting the highest gasoline inventories ever recorded.