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Montana is one of ten states that have seen the largest increases in gas prices in the last week.
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Gas prices in Montana are falling like in other parts of the country, but a gallon of gas and diesel are both more than 20 cents higher than the national average. Tourists in the state are part of the reason gas prices remain at historical highs.
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Gas prices are anticipated to be the most expensive on record for the upcoming Memorial Day weekend. While more Americans are planning road trips compared to last year, a recent survey shows they're still hesitant to lock in summer plans.
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According to AAA, the average price of a gallon of regular unleaded gas in Montana reached a record $4.22. Diesel fuel jumped to an average of $5.46, exceeding its previous record by more than a quarter.
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Diesel prices Friday climbed to a record $5.16 per gallon.
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People whose jobs depend on tourist spending are hoping Montana’s allure will remain strong enough to keep visitors coming, in spite of higher gas prices forecast for this summer. The more than $3 billion they spend every year keeps a lot of businesses afloat.
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President Biden described the move as a critical step to punishing Russian President Vladimir Putin for invading Ukraine, but said as a result, Americans should prepare for price hikes at the pump.
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University of Montana Bureau of Business and Economic Research director Patrick Barkey said drivers’ return to the streets and highways after the first swell of the pandemic have pushed up gas prices.
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Gas prices in Montana are on the rise , though not as quickly as in the rest of the country. One expert says prices will likely continue to increase.
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It’s an international agreement but Trump's decision to leave the nuclear deal with Iran could be felt in our region for good and for bad.