Average Gas Price Fell Seven Cents This Week, and Is Now 12 Cents Lower than the National Average
More good news for Missoula motorists, as the average price of gas fell by seven cents in the last week. The citywide average and in the Hamilton area currently stands at about $2.47 a gallon. Missoula’s and Montana’s average gas price both fall below the national average, currently at about $2.59 per gallon. Patrick DeHaan, head of petroleum analysis at GasBuddy, describes the current trends in gas prices.
“Statewide, prices have also moved down, but by a slightly lower amount, falling three cents to about $2.55 per gallon. In fact, with some of the lowest prices right now, Missoula gets very close; Costco [is] at $2.33 per gallon. That’s just within a few pennies of the state’s lowest price, which is $2.29 per gallon in Billings,” DeHaan told KGVO News.
“It’s been a fairly good week. Oil prices have started to move back down after the situation and escalation between the US and Iran, as there’s been relatively no movement since President Trump spoke last week on Wednesday," DeHaan stated.
The price of oil is now about $58 a barrel, which is "quite a bit" lower than the prices seen over the holiday season.
DeHaan says that motorists may be able to enjoy even lower gas prices for the time being. According to DeHaan, "gasoline is going to have some headwinds in the weeks coming up, and that is due to some of the lowest gasoline demand of the year happening over the next four weeks. I think motorists are in store for a little bit more good news. Prices could inch a little bit lower over the next four weeks; perhaps not all four weeks, but there is certainly potential for more downward movement in prices.”
Variables such as the US-China trade deal could further push down the price of gas in the months to come.