Have Montana Gas Prices Finally Peaked?

Missoula, MT (KGVO-AM News) - Montana gasoline prices have been on the rise for months, but they might finally be stabilizing. Patrick De Haan is the head of petroleum analysis at GasBuddy and he provided the current numbers.

“Average gasoline prices in Montana have risen 1.1 cents per gallon in the last week, averaging $3.55 per gallon today,” De Haan said. “Prices in Montana are 32.1 cents per gallon higher than a month ago and stand 37.6 cents per gallon higher than a year ago.”

Since January 29, 2024, the average price of gas in Montana has risen 74 cents. As of Monday afternoon, almost all the stations in Missoula had their prices set to at least $3.59 per gallon.

According to GasBuddy price reports, the cheapest station in Montana was priced at $3.28 per gallon yesterday while the most expensive was $3.79 per gallon.

Montana is currently ranked 16th in the U.S. when it comes to the average price of gas, down two spots from last week.

“The national average price of gasoline is unchanged in the last week, averaging $3.51 per gallon today,” De Haan said. “The national average is up 16.1 cents per gallon from a month ago and stands .9 cents per gallon higher than a year ago. The national average price of diesel has declined 2.9 cents in the last week and stands at $3.99 per gallon.”

According to De Haan, the national average price of gasoline has finally slowed a bit after four weeks of notable increases and it isn’t an April Fools Joke.

“For now, motorists have a bit of a reprieve from the constant big weekly price jumps,” De Haan said. “While we seem to be nearing a short-term peak, one word of caution for those in the Mid-Atlantic and Northeast: you haven't yet finished the transition to summer gasoline, so you may experience some sticker shock in a few weeks. Be prepared for somewhat of a punch.”

For the rest of the nation, De Haan said we're likely close to a peak in prices if there are no extenuating circumstances.