Montana Gas Prices Jump 91.4 Cents in One Month

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 10.8 cents per gallon in the last week, averaging $3.68 per gallon today,” De Haan said. “Prices in Montana are 91.4 cents per gallon higher than a month ago and stand 57.8 cents per gallon higher than a year ago."        

As of Monday morning, most stations in Missoula were charging $3.59, but some were charging $3.79, which is a 20-cent increase from last week and a dollar increase from four 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 $4.49 per gallon.              

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Montana is currently ranked 35th in the U.S. when it comes to the average price of gas, which is six spots higher than last week.            

"The national average price of gasoline has risen 2.4 cents per gallon in the last week, averaging $3.95 per gallon today,” De Haan said. “The national average is up 97.9 cents per gallon from a month ago and stands 83.8 cents per gallon higher than a year ago. The national average price of diesel has increased 14.3 cents compared to a week ago and stands at $5.37 per gallon.”  

READ MORE: Understanding Rising Gas Costs In Montana And Beyond

According to De Haan, gasoline and diesel prices continue to climb to multi-year highs as the effective closure of the Strait of Hormuz curtails the flow of millions of barrels of crude oil each day. 

“The situation remains highly volatile and unpredictable, but upward pressure on fuel prices is likely to persist as long as global oil supplies are constrained by the continued disruption in the Strait,” De Haan said. “We’re likely to see the national average for gasoline push beyond the $4-per-gallon mark, while diesel could approach $6 per gallon and potentially set new records if conditions fail to improve. Americans have already spent nearly $8 billion more on gasoline over the past month, a trend that poses growing risks to the broader economy, while surging diesel prices may begin to reaccelerate inflation.”