Why are Gas Prices Soaring in Montana Right Now?

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 23.3 cents per gallon in the last week, averaging $3.35 per gallon today,” De Haan said. “Prices in Montana are 62.8 cents per gallon higher than a month ago and stand 27 cents per gallon higher than a year ago."      

As of Monday morning, most stations in Missoula were charging $3.39, which is a 20-cent increase from last week and a 60-cent increase from two weeks ago. According to GasBuddy price reports, the cheapest station in Montana was priced at $2.74 per gallon yesterday, while the most expensive was $3.99 per gallon.            

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Montana is currently ranked 40th in the U.S. when it comes to the average price of gas, which is the same as last week.          

"The national average price of gasoline has risen 23.2 cents per gallon in the last week, averaging $3.68 per gallon today,” De Haan said. “The national average is up 80.0 cents per gallon from a month ago and stands 66.1 cents per gallon higher than a year ago. The national average price of diesel has increased 34.0 cents compared to a week ago and stands at $4.95 per gallon.”

READ MORE: Will Montana Gas Prices Climb Another 20-50 Cents This Week?

According to De Haan, consumers continue to feel the sting of rising oil, gasoline, and diesel costs as geopolitical tensions in the Middle East remain elevated, pushing gasoline prices to their highest levels in years, while diesel could soon approach the $5-per-gallon mark nationally. 

“Until we see a meaningful resumption of oil flows through the Strait of Hormuz, upward pressure on fuel prices is likely to persist,” De Haan said. “At the same time, seasonal forces are beginning to intensify as several regions complete the transition to summer gasoline, creating a double headwind that could continue driving pump prices higher in the weeks ahead.”