U.S. and China Trade Talks Could Impact Missoula Gas Prices
Average gas prices across Montana decreased ever so slightly. Patrick DeHaan is the head of petroleum analysis at GasBuddy. He says the statewide average currently stands a $2.85, which is one cent cheaper than last week.
“The Missoula average actually increased by about a penny,” DeHaan said. “It rose to $2.90 a gallon. Average gas prices in Missoula are now up about eight cents a gallon compared to a year ago, but things are different nationally. The national average is down about four cents a gallon in the last week. National prices are a penny lower than where they were a year ago today.”
DeHaan says without a trade deal with China, there are concerns that the economy would slow down and that would reduce our demand for oil.
“We have not seen a whole lot of relief coming to the pump,” DeHaan said. “That is probably a few weeks away. If there is a broad trade deal with China in the next few weeks, that could prolong how long it takes to see relief. It could lead to another rally in the price of oil and gasoline if there is another big trade deal with China.”
We may have finally hit a peak in terms of gas prices in Montana. DeHaan is hopeful that the worst is behind us.