Montana Gas Prices Drop Again Just Before Thanksgiving Travel

Missoula, MT (KGVO-AM News) - Gas prices in Montana continue to fall with no end in sight. Average gas prices in Montana have fallen 14.7 cents per gallon in the last week, averaging $3.42 per gallon. Patrick De Haan is the head of petroleum analysis at GasBuddy and he said prices in Montana are 48.8 cents per gallon lower than a month ago.

“According to GasBuddy price reports, the cheapest station in Montana was priced at $3.29 per gallon yesterday while the most expensive was $3.89 per gallon,” De Haan said. “The national average price of gasoline has fallen 4.6 cents per gallon in the last week, averaging $3.33 per gallon today. The national average is down 24.8 cents per gallon from a month ago and stands 42.6 cents per gallon lower than a year ago.” 

De Haan said gas prices have declined for eight straight weeks. 

“GasBuddy counts 11 states where average prices are below $3 per gallon, with several more to join this week,” De Haan said. “Even in California, the nation's most expensive gasoline average will fall below $5 in the next 48 hours. Gasoline demand has struggled in recent weeks, falling not only due to the seasonal nature, as Americans drive less as the weather gets colder, but it appears there may be some economic headwinds entering the equation as well." 

On November 13, 2023, GasBuddy released its annual Thanksgiving Travel Survey results, revealing that more Americans plan to hit the road for the holiday.  

“Forty-one percent of respondents said they plan to take a road trip this year, an 8% increase from 2022,” De Haan said. “Additionally, the national average price of gas is projected to drop to $3.25 per gallon, saving Americans nearly $1.2 billion during holiday travel compared to last year. Fewer respondents (36%) also said their plans were affected by high prices this year than last year, further demonstrating the relief at the pump.” 

Key findings from GasBuddy’s 2023 Thanksgiving Travel Survey: 

• 19% of respondents said they chose not to travel this year because inflation made fitting travel into their budget difficult 
• Most (46%) ranked gas prices as the most important factor when choosing a pitstop, compared to convenience/location, which was most important last year 
• Over half of respondents (55%) said they will be using a cashback or loyalty program to save money on gas when they fill up 
• Most plan to begin their trip on Wednesday, 11/22, or Thursday, 11/23, and leave between 8-11 a.m. 
• Of those choosing to take a road trip this year, almost all (92%) said they also traveled by car for Thanksgiving last year 
• 39% of Americans said they are more interested in owning an EV than last year 
• Of those more interested in owning an EV, 18- to 29-year-olds saw the most interest (44%) 

De Haan said drivers will be saving over half a billion dollars from Wednesday through Sunday compared to what they spent last Thanksgiving with the national average at its lowest since January.