Missoula, MT – Gasoline prices in Montana have been on a steady decline, falling for 19 of the past 20 weeks. The latest data from GasBuddy shows that the average price for a gallon of gasoline in Montana has dropped by 6.8 cents over the past week, now averaging $2.77 per gallon. This marks a significant decrease from both a month ago, when prices were 21.4 cents higher, and a year ago, when the price was 20 cents higher.
Patrick De Haan, the head of petroleum analysis at GasBuddy, highlighted that while the drop in prices is encouraging for consumers, the trend may not continue at the same pace. “With oil prices rising back above $70 per barrel last week, the potential for further gas price declines is diminishing,” he said. “We may see a second window of lower prices in January or February, but even that drop is unlikely to last long.”
As of the latest GasBuddy reports, the cheapest gas station in Montana was priced at $2.62 per gallon, while the most expensive was $3.38 per gallon. These fluctuations reflect the regional differences that motorists often experience at the pump, though the overall trend remains downward.
Montana’s position in the national rankings has also shifted. The state is currently ranked 36th in terms of average gas prices, which is two spots lower than the previous week. While Montana’s prices have been falling, the national average has seen a slight uptick. The national average price of gasoline rose by 0.8 cents per gallon in the last week, now standing at $2.98. Despite this increase, the national average is still 7.5 cents lower than a month ago and 7.1 cents lower than this time last year.
De Haan noted that the end of the year typically signals a slowing of the downward momentum for gas prices, with the national average generally bottoming out between Thanksgiving and Christmas. The pattern is consistent with previous years, when prices tend to stabilize or even rise as the holiday season approaches.
In addition to gasoline prices, the price of diesel has also seen a decline. The national average for diesel has dropped by 1.8 cents over the past week, now averaging $3.47 per gallon.
Looking ahead, De Haan suggests that there may still be some opportunities for lower prices in the coming months, but consumers should not expect prolonged relief. “While several states experienced significant price fluctuations recently, those that saw large price increases could see prices drift lower again,” he said. “However, these price drops are unlikely to last long, and prices will likely stabilize as we move into 2024.”
For those eager to get a sense of where gas prices might be heading in the future, GasBuddy’s 2025 Fuel Outlook will be released in the coming weeks, providing a glimpse into the expected price trends for the year ahead.
As Montana motorists enjoy the current price relief, the outlook for the rest of the year suggests that further drops may be limited, with the possibility of small price increases as the holiday season progresses.
