Gas Prices Continue to Rise as U.S. Motorists Hit the Road
Gas prices are on the rise all across the United States and Missoula is no exception. Gas prices in Missoula have increased about eight cents per gallon in the past week. Patrick DeHaan is the head of petroleum analysis at GasBuddy and he provided KGVO with the current numbers.
“The current average in Missoula is about $1.80 per gallon,” DeHaan said. “That compares to the statewide average, which is up about seven cents per gallon and it stands at $1.82. The national average moved up a little more slowly, only rising about a penny. It stands at $1.97. By all metrics, gas prices are starting to go up across much of Montana and the national average is moving that way as well.”
According to DeHaan, this slow upward trend will likely continue throughout the summer season.
“The biggest indicator is that Americans are starting to hit the road again and they are filling their tanks,” DeHaan said. “Gasoline demand continues to go up and that is likely one of the factors in why oil prices have rebounded.”
DeHaan said demand has gone back up that has had a significant impact on oil inventories recently.
“Oil inventories are still about 10% above where they were last year, but we did see another big rise in crude oil inventories last week to the tune of over seven million barrels,” DeHaan said. “Gasoline inventories fell. What we are seeing now is basically crude oil inventories continue to go up as refineries continue to only slowly return to producing as much gasoline as they did prior.”
DeHaan recommends motorists fill up their tanks as soon as possible because he doesn’t expect another decrease in prices for quite some time.