AAA report: Gas prices still low in Montana

The average price for gasoline at the pump in Montana went up about 11 cents in last week of February, reaching $3.28 per gallon for regular, according to AAA Mountain West.

The organization notes that Montana currently has the third lowest average cost of fuel in the nation. The average in Montana is $1.07 less than in the highest state, Hawaii at $4.35. It’s also 50 cents below the 2011 high in Montana of $3.78 and 92 cents below the all-time high in Montana of $4.20 in July 2008.

According to AAA Mountain West, lower gas prices in Montana are the result of having refineries in the state with access to “inland, landlocked crude that is not influenced as much by the global crude market.”

Crude oil prices are very diverse right now, the organization says, causing a wide range of prices at the pump across the U.S.

“This diversity in price is something analysts have never seen before,” the organization said. “Crude oil prices are on a roller-coaster as the market considers geopolitical tensions and economic concerns which cause worry for future supply and distribution.”

Looking ahead, increased demand for gas in spring and summer is expected to put upward pressure on gasoline prices, AAA Mountain West said.