Average Gas Prices Fall By 2.6 Cents

Average gasoline prices in Montana have fallen 2.6 cents per gallon in the last week, averaging $2.91/gallon on Monday, Jan. 8, according to GasBuddy’s survey of 615 stations in Montana.

Prices in Montana are 13.0 cents per gallon lower than a month ago and stand 6.3 cents per gallon lower than a year ago.

The national average price of diesel has fallen 5.6 cents in the last week and stands at $3.90 per gallon.

According to GasBuddy price reports, the cheapest station in Montana was priced at $2.76/g on Sunday, Jan. 7, while the most expensive was $3.39/g, a difference of 63.0 cents per gallon.

The national average price of gasoline has fallen 3.8 cents per gallon in the last week, averaging $3.03/g on Monday. The national average is down 12.2 cents per gallon from a month ago and stands 22.0 cents per gallon lower 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 10 years: Jan. 8, 2023: $2.98/g (U.S. Average: $3.25/g) Jan. 8, 2022: $3.37/g (U.S. Average: $3.30/g) Jan. 8, 2021: $2.23/g (U.S. Average: $2.32/g) Jan. 8, 2020: $2.57/g (U.S. Average: $2.61/g) Jan. 8, 2019: $2.32/g (U.S. Average: $2.23/g) Jan. 8, 2018: $2.56/g (U.S. Average: $2.49/g) Jan. 8, 2017: $2.25/g (U.S. Average: $2.37/g) Jan. 8, 2016: $1.97/g (U.S. Average: $1.98/g) Jan. 8, 2015: $2.11/g (U.S. Average: $2.17/g) Jan. 8, 2014: $2.99/g (U.S. Average: $3.30/g) Neighboring areas and their current gas prices: Idaho- $3.08/g, down 6.0 cents per gallon from last week’s $3.14/g.

Billings- $2.89/g, down 4.2 cents per gallon from last week’s $2.93/g.

Wyoming- $2.79/g, down 2.8 cents per gallon from last week’s $2.82/g.

“Sluggish gasoline demand has led to the national average easing again, and brings back the potential for the national average to drift under $3 per gallon for the first time since 2021,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With a record rise in gasoline inventories last week as demand was anemic during the holidays, motorists have provided the catalyst for falling prices. If demand remains weak, gasoline prices could fall further. In addition, refinery issues in California have also eased, which will soon cause prices to decline in California, Nevada and Arizona, providing momentum for a possible run at a $2.99 national average. However, the better it gets now, the more bumpy and sharp the rise could be ahead of the spring, as prices could start their rise of 35-85 cents per gallon around mid-February.”