Gas Prices Increase By 2.1 Cents
Montana gas prices have risen 2.1 cents per gallon in the past week, averaging $3.43/g on Monday, according to GasBuddy’s daily survey of 615 stations in Montana. Gas prices in Montana are 6.8 cents per gallon higher than a month ago and stand $1.04/g higher than a year ago.
According to GasBuddy price reports, the cheapest station in Montana is priced at $3.23/g while the most expensive is $3.69/g, a difference of 46.0 cents per gallon.
The national average price of gasoline has risen 3.2 cents per gallon in the last week, averaging $3.52/g today. The national average is up 20.7 cents per gallon from a month ago and stands 88.9 cents per gallon higher than a year ago.
Historical gasoline prices in Montana and the national average going back 10 years: Feb. 21, 2021: $2.39/g (U.S. Average: $2.63/g) Feb. 21, 2020: $2.43/g (U.S. Average: $2.48/g) Feb. 21, 2019: $2.27/g (U.S. Average: $2.40/g) Feb. 21, 2018: $2.59/g (U.S. Average: $2.52/g) Feb. 21, 2017: $2.31/g (U.S. Average: $2.28/g) Feb. 21, 2016: $1.70/g (U.S. Average: $1.71/g) Feb. 21, 2015: $1.99/g (U.S. Average: $2.28/g) Feb. 21, 2014: $3.09/g (U.S. Average: $3.38/g) Feb. 21, 2013: $3.22/g (U.S. Average: $3.78/g) Feb. 21, 2012: $3.12/g (U.S. Average: $3.57/g) Neighboring areas and their current gas prices: Idaho- $3.49/g, down 0.3 cents per gallon from last week’s $3.49/g.
Billings- $3.37/g, down 1.8 cents per gallon from last week’s $3.39/g.
Wyoming- $3.37/g, up 5.0 cents per gallon from last week’s $3.32/g.
“With tensions still very high that Russia may invade Ukraine, gasoline prices kept moving higher, tugged by the rising price of oil as the market concentrates on possible outcomes from the situation that could affect global oil production amidst recovering demand,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “However, with nuclear talks between Iran and global powers ongoing in Vienna, the possibility exists that a new deal could bring Iran’s crude oil supply back to legitimate markets, helping to ease a slight portion of supply concerns. While the proposition remains in the air for the time being, we’re also just a few weeks away from the traditional start of the spring surge in gasoline prices, brought on by the change to summer gasoline, seasonal maintenance at refineries and rising demand. The weeks ahead could be rather ugly with rising prices, especially if Russia pursues a strong-arm invasion of Ukraine.”
