The Russian invasion of Ukraine has wreaked havoc in oil prices, and consequently in gas prices at the pump here in Missoula, and throughout the country.
Patrick DeHaan, Head Petroleum Analyst for Gas Buddy, told KGVO News on Friday that gas prices in Missoula will almost certainly top $4 per gallon by the Memorial Day weekend.
Along with the bad news of the worldwide Omicron COVID 19 virus scare, the good news is that oil prices are plummeting, with gas prices hopefully to follow.
With so many of the nation’s refineries in the Gulf, Hurricane Ida has forced closures and evacuations which have affected oil prices and subsequently gas prices, as well.
As part of the stock correction over the pest few days due to increasing COVID fears, the price of crude oil also tumbled, and this may lead to moderating gas prices, according to Gas Buddy Analyst Patrick DeHaan
Patrick DeHaan, analyst for Gas Buddy, spoke to KGVO News on Thursday to give an overview of the Colonial Pipeline hack and where gas prices are headed