The average price per gallon of regular unleaded fuel across the state is the cheapest in the nation.
An average gallon of gas in Montana is $3.01, which is 31 cents cheaper than the current national average price, according to AAA.
“The Rocky Mountain states have been experiencing lower gas prices than the national average recently,” AAA spokeswoman Kaelyn Kelly said in a statement.
“In 2013, Montana hit its lowest price of the year of $2.99 per gallon on January 27. It will be interesting to see if the downward trend in prices in the state continues into January like it did last year.”
The national average price per gallon in 2013 was the third highest on record, but lowest since 2010 at $3.49, according to the national motor club organization.
AAA analysts predict gas prices most likely would average slightly less in 2014 as refineries continue to expand production capacity and increasingly rely on North American crude oil. Increased refinery capacity and domestic oil production should provide a supply cushion that helps to limit dramatic price spikes caused by supply and demand, according to analysts.
“Gas prices should average slightly less in 2014 if everything goes as expected, but most drivers may not even notice because the difference could be relatively small,” says AAA Fuel Price Analyst Avery Ash.
“Increased refinery capacity and domestic crude oil production should help provide a cushion in case something goes wrong, but there are no guarantees when it comes to gas prices. There will remain an outside chance of paying higher prices due to unexpected global events or significant economic growth.”
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