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Gas prices creeping below $2 a gallon at some stations in Billings

Posted at 8:24 PM, Jan 07, 2019
and last updated 2019-07-17 14:50:32-04

BILLINGS- Gas for under $2 a gallon is popping up in Billings again, but experts say likely not for long.

Prices fell 7.5 cents a gallon over the last week, hitting an average of $2.28 in the Billings area Sunday, according to GasBuddy, which tracks fuel prices.

The price at Costco Monday was $1.99, and Sam’s Club was selling for $1.94, according to GasBuddy. Those two retailers typically sell gas 20 to 30 cents cheaper per gallon than other outlets, largely because membership fees subsidize many of their products.

Oil industry analysts say prices below $2 a gallon are becoming increasingly common nationwide.

“After a brief hiccup that saw the nation’s average gas price rise for two days last week, the overall trend remains in favor of lower gas prices, even as oil prices have rallied. The window for cheap gas prices continues to close, however, and by mid-February will likely be completely closed- so do take advantage of the low prices while they last,” said Patrick DeHaan, head of petroleum analysis for GasBuddy, in a statement.

Prices in Billings on Monday were 26 cents lower per gallon compared to a year ago and 40.5 cents down from a month ago.

In Montana, prices averaged $2.31 Sunday, down 9.6 cents from the previous week.

The national average was $2.23, down 19 cents over the month and 25 cents over the year.

Click here for live fuel price averages.