Montana Gas Prices Drop Again: What You Need to Know

Missoula, MT (KGVO-AM News) - After a slight increase two weeks ago, Montana gasoline prices have now dropped in back-to-back weeks. Patrick De Haan is the head of petroleum analysis at GasBuddy and he provided the current numbers.                   

“Average gasoline prices in Montana have fallen 3.3 cents per gallon in the last week, averaging $3.37 per gallon today,” De Haan said. “Prices in Montana are 8.6 cents per gallon lower than a month ago and stand 31.3 cents per gallon lower than a year ago.”                 

As of Monday afternoon, many stations in Missoula still had their prices set to around $3.39 per gallon.     

According to GasBuddy price reports, the cheapest station in Montana was priced at $3.16 per gallon yesterday while the most expensive was $3.79 per gallon.                  

Montana is currently ranked 26th in the US 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 1 cent per gallon in the last week, averaging $3.41 per gallon today,” De Haan said. “The national average is down 18 cents per gallon from a month ago and stands 13.8 cents per gallon lower than a year ago. The national average price of diesel has fallen 1.6 cents in the last week and stands at $3.73 per gallon.”              

READ MORE: Understanding Montana Gas Prices: Insights From Industry Expert

According to De Haan, the increases that occurred this week likely won’t last. 

"Since the national average price of gasoline fell to its lowest June level since 2021 last week, we've seen the drop in prices take a break, with some states seeing a small rise over the last week,” De Haan said. “Thankfully, I expect this to be more like a short timeout, with an eventual return to falling gasoline prices in most states. The decline in diesel prices continues, with the national average price of diesel now at its lowest level since January 2022.” 

According to De Haan, both gasoline and diesel prices remain below their year-ago level, which is music to the ears of the Federal Reserve, as fuel prices are a significant component of the Consumer Price Index.  

“Also factoring in gasoline demand that has been running a bit weaker than expected, market fundamentals look pretty good right now if you're a motorist,” De Haan said.