Gas Prices In Montana Finally Show Signs Of Leveling Off

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

“Average gasoline prices in Montana have increased 3 cents in the last week, averaging $4.58 per gallon today,” De Haan said. “Prices in Montana are 67.2 cents per gallon higher than a month ago and stand $1.38 per gallon higher than a year ago."                

As of Monday morning, most stations in Missoula are charging $4.69, which is the same as last week. According to GasBuddy price reports, the cheapest station in Montana was priced at $3.99 per gallon yesterday, while the most expensive was $5.40 per gallon.                      

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Montana is currently ranked 17th in the U.S. when it comes to the average price of gas, which is the same spot as last week.                   

"The national average price of gasoline has fallen 6.6 cents per gallon in the last week, averaging $4.45 per gallon today,” De Haan said. “The national average is up 41.0 cents per gallon from a month ago and stands $1.32 per gallon higher than a year ago. The national average price of diesel has decreased 4.0 cents compared to a week ago and stands at $5.57 per gallon.”          

READ MORE: Montana Faces Its Most Expensive Summer at the Pump in Years

According to De Haan, average gasoline prices declined in 40 states over the last week as falling oil prices helped offset earlier price cycling in many markets, bringing relief to motorists after several states had already seen sharp increases. 

“Much of the decline came after renewed optimism surrounding a potential U.S.-Iran agreement pushed oil prices lower, easing geopolitical pressure on energy markets,” De Haan said. “In many states, that drop created breathing room after recent price cycles and allowed pump prices to fall again. While oil continued drifting lower over the weekend on hopes of a deal, new CENTCOM reports involving U.S. defensive strikes highlight how quickly the outlook could change.” 

For now, De Haan said motorists may continue to see some relief, but it remains too early to know how long the decline will last.