Gas Prices Drop In Montana, Potential Impact of Keystone XL

Gas prices plummeted across the nation, including Montana, but it has little to do with the election.

“Average price dropping 3 cents a gallon from 2.34 down to about 2.31,” Gasbuddy Senior Petroleum Analyst Patrick  DeHaan said. “The three cent drop, the national average, is down four cents and a lot of it has nothing to do with the election and more to do with the fact that oil prices now are among the lowest levels since March. A barrel left Texas Intermediate Trading for just $42 a barrel, just for reference back in mid-October it was about $10 per barrel higher.”

One election outcome that could impact gas prices involves Donald Trump and Senate Majority Leader Mitch McConnell’s advocacy for the Keystone XL Pipeline. DeHaan says it may slightly increase prices in the Rocky Mountain States.

"Building the Keystone XL would likely remove that discount and result in higher prices for Canadian oil," DeHaan said. "Which in some areas of the country mainly the Rockies to the Midwest is a significant source of oil  to the U.S. So it might affect some areas more than others, but really not a significant impact that motorists would notice it at the pump."

DeHaan is not predicting gas price increases anytime soon.