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National Gas Prices at a Six Year High, Montana Better Off

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Photo courtesy of Jon King

Independence Day is on the way, and, for some, so are some really high gas prices. However, gasbuddy.com petroleum analyst Patrick DeHaan says prices may begin falling again soon.

“As we head into July 4, it does look like things could stableize,” DeHaan said. “Between June 25 and about June 29 prices are very little changed, holding at about $3.60 across Montana. This could be the week that we see a decrease, but, no matter, this nationally is going to be the most expensive July 4 since 2008.”

Montana’s gas prices are much lower than the national average and aren’t all that high compared to the recent past.

“Looks like Montana’s price in late summer 2013 had risen to about $3.70,” DeHaan said. “The highest price in Montana in the last five years has only reached about $3.75 a gallon, so we are getting up there, in terms of the last five years,  but it doesn’t compare to 2008 when we saw prices in Montana at $4.18 a gallon.”

Despite bad news pouring out of Iraq recently, the price of a barrel of oil has been falling over the past few days. DeHaan says this is putting downward pressure on prices.

 

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