Election Results Impacting Montana Gas Prices is a ‘Myth’

Missoula, MT (KGVO-AM News) - Montana gas prices have dropped in seven straight weeks for the second time this year. Patrick De Haan is the head of petroleum analysis at GasBuddy, and he provided the current numbers.        

“Average gasoline prices in Montana have fallen 21.9 cents per gallon in the last week, averaging $4.06 per gallon today,” De Haan said. “Prices in Montana are 40.7 cents per gallon lower than a month ago and stand $1.07 per gallon higher than a year ago."        

As of Tuesday morning, the two stations at the corner of Reserve and Mullan in Missoula were charging $3.89, which is 35 cents lower than last week. The two stations at the corner of South Avenue and Reserve Street were charging $3.99 and $4.06, which is around 30 cents lower than last week. Another station on Reserve was charging $3.99, which is a 28-cent decrease. According to GasBuddy price reports, the cheapest station in Montana was priced at $3.69 per gallon yesterday, while the most expensive was $4.99 per gallon.       

Montana is currently ranked 25th in the U.S. when it comes to the average price of gas, which is three spots lower than last week.  

"The national average price of gasoline has fallen 15.9 cents per gallon in the last week, averaging $3.96 per gallon today,” De Haan said. “The national average is down 39.3 cents per gallon from a month ago and stands 92.2 cents per gallon higher than a year ago. The national average price of diesel has decreased 9.5 cents compared to a week ago and stands at $6.19 per gallon.”        

READ MORE: Montana Gas Prices Fall Again, Missoula Prices are Inconsistent

De Haan said gas prices fell in every state over the last week, while diesel declined in nearly every state, and the national average dropped below $4 per gallon for the first time since early August. 

"Many will assume the election had something to do with it, but that’s a myth," De Haan said. "Gas prices have fallen in the 30 days leading up to the election every year since 2006 except 2010, and it’s typically seasonal: refiners finish maintenance and ramp up output just as demand fades with cooler weather. Those same forces, along with more oil moving through the Strait of Hormuz, are why prices could stay below $4 in the weeks ahead." 

That said, De Haan said the election’s outcome may send a message to Washington to sharpen its focus on affordability, and he expects even more attention on bringing prices down. But for now, he said it’s the seasonal shift and not politics, driving the relief at the pump.