Why Are Gas Prices Dropping In Montana This Month?

Missoula, MT (KGVO-AM News) - Average gas prices in Montana have increased in 25 out of 39 weeks, but have dropped two weeks in a row. Patrick De Haan is the head of petroleum analysis at GasBuddy, and he provided the current numbers.

“Average gasoline prices in Montana have fallen 4.8 cents per gallon in the last week, averaging $3.14 per gallon today,” De Haan said. “Prices in Montana are 7.9 cents per gallon lower than a month ago and stand 11.7 cents per gallon lower than a year ago.”

As of Monday morning, many stations in Missoula had their prices set to around $3.08 per gallon.

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According to GasBuddy price reports, the cheapest station in Montana was priced at $2.88 per gallon yesterday, while the most expensive was $4.19 per gallon.

Montana is currently ranked 15th in the U.S. when it comes to the average price of gas, which is one spot lower than last week.

"The national average price of gasoline has fallen 5.8 cents per gallon in the last week, averaging $3.08 per gallon today,” De Haan said. “The national average is down 11.1 cents per gallon from a month ago and stands 9.0 cents per gallon lower than a year ago. The national average price of diesel has decreased 1.3 cents compared to a week ago and stands at $3.65 per gallon.”

According to De Haan, gas prices have seen a notable weekly drop in most states as seasonal factors ramp up their impact, namely the switch to cheaper winter gasoline and falling gasoline demand.

“Price cycling markets led the way with significant declines in Ohio, Florida, and Michigan, while Indiana experienced a price cycle that resulted in the largest weekly increase of any state last week,” De Haan said. “For now, seasonal factors will remain the primary driver of relief at the pump, though we continue to monitor the tropics for any potential disruptions to seasonal trends.”