Expert Expects Gas Prices to Remain ‘Volatile’ in the Weeks Ahead

Missoula, MT (KGVO-AM News) - After back-to-back increases, Montana gas prices have dropped this week. Patrick De Haan is the head of petroleum analysis at GasBuddy, and he provided the current numbers.                  

“Average gasoline prices in Montana have fallen 2.9 cents per gallon in the last week, averaging $4.38 per gallon today,” De Haan said. “Prices in Montana are 11.1 cents per gallon higher than a month ago and stand $1.14 per gallon higher than a year ago."                             

As of Monday morning, the two stations at the corner of Reserve and Mullan in Missoula were charging $4.29. According to GasBuddy price reports, the cheapest station in Montana was priced at $3.96 per gallon yesterday, while the most expensive was $5.34 per gallon.      

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Montana is currently ranked 9th in the U.S. when it comes to the average price of gas, which is one spot higher than last week.                    

"The national average price of gasoline has fallen 3.2 cents per gallon in the last week, averaging $4.01 per gallon today,” De Haan said. “The national average is down 7.3 cents per gallon from a month ago and stands 86.6 cents per gallon higher than a year ago. The national average price of diesel has decreased 1.4 cents compared to a week ago and stands at $5.57 per gallon.”               

READ MORE: Average Gas Prices on Labor Day Could Be the Highest Ever

De Haan said average gasoline prices fell in slightly more than half of states over the last week while diesel declined in roughly half, as oil prices moved lower. 

"Over the weekend, the Trump administration struck a major deal with Venezuela, a signal that the White House remains concerned about elevated fuel prices — though in reality, any benefits from increased Venezuelan output will take years to fully materialize and are unlikely to move the needle in the near term," De Haan said. "The factors with the most immediate impact on where prices go from here remain the ongoing developments between the U.S. and Iran and continued Ukrainian attacks on Russian oil refineries, both of which continue to exert outsized influence on global fuel markets. Motorists should expect continued volatility in the weeks ahead."