Idaho gas prices fall 9 cents this week

The following is a news release from AAA Idaho.

BOISE – With Thanksgiving still weeks away, Idaho drivers are already feeling a bit more gratitude when they stop to fill up.

According to AAA, the average price for a gallon of regular in the Gem State is $3.28, which is nine cents less than a week ago, 19 cents less than a month ago, and 56 cents less than a year ago. Boise-area prices dropped by an average of 12 cents this week.

The national average currently sits at $3.10 per gallon, which is three cents cheaper than a week ago, eight cents less than a month ago, and 33 cents less than a year ago. Idaho currently ranks 8th in the country for most expensive fuel behind Hawaii ($4.57), California ($4.55), Washington ($4.03), Nevada ($3.79), Oregon ($3.61), Alaska ($3.59), and Pennsylvania ($3.31).

“For most of last week, the cost of crude oil dipped below $70 per barrel. That translated to relief at the pump, despite a slight surge in fuel demand,” says AAA Idaho public affairs director Matthew Conde. “We’ll continue to monitor the crude oil market in the aftermath of the general election.”

Today, the West Texas Intermediate benchmark for crude oil is currently trading near $71 per barrel, which is $4 more than a week ago, $3 less than a month ago, and $9 less than a year ago.

Iran has threatened to retaliate against Israel’s measured response to recent missile attacks. If tensions in the region escalate, the price of crude oil may increase.

According to recent data from the Energy Information Administration, gasoline demand jumped by nearly 300,000 barrels to 9.15 million barrels per day, while crude oil stocks dipped slightly by 0.5 million barrels. However, recent supply and demand pressures were not enough to prevent gas prices from slipping this week.

Here’s a look at Idaho gas prices, as of Nov. 4:

Boise – $3.28
Coeur d’Alene – $3.10
Franklin – $3.32
Idaho Falls – $3.10
Lewiston – $3.37
Pocatello – $3.31
Rexburg – $3.40
Twin Falls – $3.27