Cheaper gas prices in time for holiday spending spree

The following is a news release from AAA Idaho.

BOISE – A beautiful sight, we’re happy tonight. That’s part of a beloved Christmas song, and it’s also the feeling Idaho drivers are having when they stop to fill up today.

According to AAA, Idaho’s average price for a gallon of regular is $2.98, which is four cents less than a week ago, 20 cents less than a month ago, and 38 cents less than a year ago.

The national average currently sits at $3.02 per gallon, where it has lingered for the past week. The U.S. average is about five cents per gallon cheaper than a month ago and a year ago. Today, Idaho ranks 20th in the country for the most expensive fuel, joining 31 other states below the $3 mark.

“We continue to save at the pump, which will hopefully make holiday shopping just a little more budget-friendly these days,” says AAA Idaho public affairs director Matthew Conde. “As always, bundling your errands is another way to save.”

The West Texas Intermediate benchmark for crude oil is currently trading near $71 per barrel, which is $3 more than a week ago, $4 more than a month ago, but about the same price as a year ago. With just a few exceptions, crude prices have stayed below $70 since mid-November.

According to the most recent report by the Energy Information Administration, gasoline demand increased slightly to 8.8 million barrels per day. However, stock levels also increased by five million barrels for the week, helping to keep prices in check.

Here’s a look at Idaho gas prices, as of Dec. 16:

Boise – $2.96
Coeur d’Alene – $2.86
Franklin – $2.93
Idaho Falls – $2.85
Lewiston – $3.21
Pocatello – $2.97
Rexburg – $3.00
Twin Falls – $2.95