Montana Experiences Rapid Gas Price Drop
Over the past week, Montana saw one of the biggest drops in gas prices ever.
"We had a huge fall in gasoline prices in the Montana area, week-on-week we had almost an eight cent drop in gas prices," said Gasbuddy.com petroleum analyst Will Spear. "The average price of gasoline is now at $1.82, right on pace with the national average."
The week ahead isn't likely to bring another radical drop in gas prices, but there is still room for the price to continue to fall. Spear says gasoline inventories are flooded and that an oil barrel is now worth more than its contents
"The container is now priced more expensively than the material in it, which kind of shows you the dire state we are in with inventories and stuff like that," Spear said. "We have the highest gasoline inventories in the United States right now since the 1990s."
The news isn't so dire for drivers though, as prices across the U.S. hit prices as low as those experienced during the 2009 recession. As January comes to an end, the most expensive gasoline in the country is in California where the average price is $2.67, the cheapest state for gasoline is Oklahoma where prices are down to $1.51 on average.