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Saturday, November 23, 2024

Gas budget should rise $83.99 in June per average Montana driver

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The average Montana driver will pay $83.99 more at the pump in June 2022 than they did in June 2021, according to an analysis of gas prices from the AAA motor club and Federal Highway Administration (FHA) data by Big Sky Times.

Montana drivers will pay an average of $4.46 per gallon of regular gasoline this month versus $2.93 last year. This is a 52.5 percent increase equaling $1.54 per gallon.

Of the three Montana metropolitan areas analyzed, drivers in Missoula faced the largest price hike at the pump in the last year of $87. Billings was spared the worst pain, with the price of gas rising $80.60 from June 2021 to June 2022.

Gas prices across the US hit a seven-year high following a significant drop at the beginning of the COVID-19 pandemic.

The price of gas, derived from the cost of oil manufactured around the world, has the power to substantially change the free market and influence many industries.

A short-term outlook report from the US Energy Information Administration predicted gas rates will fall throughout 2022.

Montana drivers average 1,323.3 miles and use 54.7 gallons of gasoline per month, according to the FHA.

Montana gas price difference - June 2021 vs. June 2022

Market20222021CHG%Total increase
Missoula$4.59$3$1.5953.1%$87
Great Falls$4.39$2.88$1.5152.3%$82.52
Billings$4.32$2.85$1.4751.8%$80.60

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