National Gas Prices Slide to Four Year Record Low, Different Story for Montana
National Gas prices are now at their lowest point in over four years, but Montana seems to be lagging behind.
"The national average stands at its lowest level since late 2010, I wish the same held for Montana," said gasbuddy.com Petroleum Analyst Patrick DeHaan said. "Prices continue to inch down across Montana, but they are only at their lowest levels compared to what we saw earlier this year. Not a whole lot to celebrate in Montana yet, but prices will likely continue to keep declining."
DeHaan says the price drops are partially driven by economic jitters, but mostly by Saudi Arabia, who may be undercutting fuel prices to help bring an end to the Bakken Boom.
"The Saudi's have seen their market share shrink, the U.S. is producing more oil and they may feel a little bit left in the dust here. The U.S. doesn't need them as much and they want to fight back because they can produce cheaper oil than the U.S. can, which means if oil prices decline, it's the U.S. production that will go offline first, not the Saudi's.
There are currently nineteen states with prices under three dollars a gallon, the lowest price in Missoula is three dollars and fourteen cents a gallon at Costco.