The 22-year-old scored four goals last month, including a double in the 4-3 win at Stranraer as Darren Young's side continued their good run.
Dowds, who joined from Heriot Watt University in the summer and has since signed a new deal until 2020, has helped the Methil club close the gap on second-placed Raith Rovers to one point.
East Fife are on IRN-BRU Cup duty this weekend when they play Bohemians in Dublin in a delayed quarter-final, with the winners away to Ross County in the last four.
