Gas Under $2.00 Coming to U.S. Soon, but How Low Will Montana Prices Get?
A decision by the Organization for Petroleum Exporting Countries, or OPEC, to keep oil production at its current pace has caused fuel prices around the world to decline. Gasbuddy.com Petroleum Analyst Patrick Dehaan says that last Thursday’s decision is changing prices in Montana too.
"[OPEC's decision] opened the floodgates for oil prices to decline sharply, falling $8.00 a barrel between Thursday and Friday, while we were all celebrating," said DeHaan. "Just in the last week, we've seen Montana's average price inch lower to about $2.90 that's a three cent decline, but over the next week those declines should accelerate."
DeHaan says some cites will be seeing gas under $2.00 a gallon within the week, but Montana is unlikely to get prices that low this year.
"Today in Houston there is one station charging $2.10, while in South Carolina one station sits at $2.14," Dehaan said. "Expect a lot of media hubbub about the $1.99 gas, but for Montana, prices should decline about five cents a gallon here in the next week. If I had to wager a guess, by the end of the year, we'll probably see prices around $2.40, maybe $2.50 in Montana."
Prices in Montana are fourteen cents cheaper than they were last year, and are falling faster than the national average.