Gas Prices Increase By 2.5 Cents Per Gallon
Average gasoline prices in Montana have risen 2.5 cents per gallon in the last week, averaging $3.39/g on Monday, Feb. 7, according to GasBuddy’s survey of 615 stations in Montana. Prices in Montana are 2.3 cents per gallon higher than a month ago and stand $1.05/g higher than a year ago.
According to GasBuddy price reports, the cheapest station in Montana was priced at $3.16/g on Monday while the most expensive was $3.69/g, a difference of 53.0 cents per gallon.
The national average price of gasoline has risen 8.0 cents per gallon in the last week, averaging $3.42/g on Monday. The national average is up 12.3 cents per gallon from a month ago and stands 97.5 cents per gallon higher than a year ago, according to Gas-Buddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
Historical gasoline prices in Montana and the national average going back ten years: Feb. 7, 2021: $2.34/g (U.S. Average: $2.45/g) Feb. 7, 2020: $2.48/g (U.S. Average: $2.43/g) Feb. 7, 2019: $2.23/g (U.S. Average: $2.30/g) Feb. 7, 2018: $2.61/g (U.S. Average: $2.60/g) Feb. 7, 2017: $2.31/g (U.S. Average: $2.26/g) Feb. 7, 2016: $1.78/g (U.S. Average: $1.74/g) Feb. 7, 2015: $1.91/g (U.S. Average: $2.17/g) Feb. 7, 2014: $3.00/g (U.S. Average: $3.26/g) Feb. 7, 2013: $3.04/g (U.S. Average: $3.56/g) Feb. 7, 2012: $3.05/g (U.S. Average: $3.48/g) Neighboring areas and their current gas prices: Idaho- $3.49/g, down 1.8 cents per gallon from last week’s $3.51/g.
Billings- $3.36/g, up 4.4 cents per gallon from last week’s $3.32/g.
Wyoming- $3.28/g, down 0.7 cents per gallon from last week’s $3.29/g.
“Gas prices saw their sharpest rise in months last week as oil surged to $93 per barrel, on continued concerns over Russia invading Ukraine and that there won’t be enough supply to meet demand come this summer,” said Patrick De Haan, head of petroleum analysis at Gas-Buddy. “With the national average at its highest level since 2014, the news is grim: motorists should expect even more price increases, with the larger jumps coming later this spring as a confluence of seasonal factors and the potential flare up in geopolitical tensions. Ultimately, the national average could be pushed to record territory by the start of the summer driving season.”
