Missoula Gas Prices Drop Again, Expect an Increase Next Week
For the seventh straight week, the national average price of gas has fallen. GasBuddy Senior Petroleum Analyst Dan McTeague says Missoula prices continue to drop as well.
“The average price is about $2.79,” McTeague said. “This time last week, the average was about four cents a gallon higher. It is definitely moving in the right direction. Petroleum prices have generally dropped, much of it to do with the fact that there is overarching concern about trade between the United States and China as well as many refineries finally getting back, and out of, their spring time maintenance.”
McTeague says there are several global and domestic events going on right now that could cause significant changes to the price of gas. This weekend, President Trump is meeting with President Xi Jinping to discuss trade between the U.S. and China.
“If they don’t get a trade agreement hammered out or they don’t pull back from the fairly significant trade war, then it is likely that we could seen energy prices tumble,” McTeague said. “However, if they do get their act together, we could see more pressure upwards on prices, especially during the summer demand driving season. We could see further increases down the road, but for now I think we are in a stable position right up until the middle of next week at which point, I think we could start to see prices moving up.”
Gas prices in Montana are seven cents per gallon lower than a month ago and are 13 cents lower than a year ago. McTeague predicted that prices would jump an average of four cents a gallon by the 4th of July.