Missoula Gas Prices Have Jumped Over $1 in 5 Weeks

Missoula, MT (KGVO-AM News) - Montana gas prices continue to rise at an alarming rate. Patrick De Haan is the head of petroleum analysis at GasBuddy, and he provided the current numbers.       

“Average gasoline prices in Montana have risen 9.4 cents per gallon in the last week, averaging $3.78 per gallon today,” De Haan said. “Prices in Montana are 69.9 cents per gallon higher than a month ago and stand 63.6 cents per gallon higher than a year ago."         

As of Monday morning, most stations in Missoula were charging $3.79, which is a 20-cent increase from last week and a dollar increase from five weeks ago. According to GasBuddy price reports, the cheapest station in Montana was priced at $3.38 per gallon yesterday, while the most expensive was $4.69 per gallon.               

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Montana is currently ranked 38th 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 risen 11.8 cents per gallon in the last week, averaging $4.06 per gallon today,” De Haan said. “The national average is up 65.1 cents per gallon from a month ago and stands 85.0 cents per gallon higher than a year ago. The national average price of diesel has increased 20.7 cents compared to a week ago and stands at $5.58 per gallon.”   

READ MORE: Montana Gas Prices Increase 91.4 Cents in One Month

According to De Haan, gasoline prices are poised for another jolt this week. 

“Many inland states, including the Plains, Great Lakes, and parts of the Rockies, are likely to see sharp increases as last week’s surge in wholesale costs has yet to be fully passed through to consumers,” said De Haan. “In addition, some price-cycling markets could also see another round of increases. As a result, the national average could rise by double digits, potentially reaching the $4.20 to $4.35 per gallon range in the days ahead.” 

De Haan said diesel prices continue to climb as well and now sit just 25 cents away from setting a new all-time record. 

“Recent escalations between the U.S. and Iran have further intensified concerns about prolonged disruptions to global oil flows, keeping markets on edge,” De Haan said. “At this point, the trajectory of fuel prices remains highly uncertain and is largely contingent on the reopening of the Strait of Hormuz. Until that occurs, the risk of further increases remains firmly in place.”