Idaho gas prices subside as holiday travel winds down
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The following is a news release from AAA Idaho.
BOISE – Holiday lights and Christmas trees are being taken down, and Idaho gas prices are starting to drop as well.
According to AAA, the average price for a gallon of regular in the Gem State is $3.08. Idaho’s average fell half a penny overnight, and while it’s currently three cents more than a week ago and a month ago, Monday’s price is still 11 cents cheaper than a year ago.
Meanwhile, the national average is hovering near $3.03 per gallon, about a penny and a half more than a week ago, but three cents less than a month ago and nine cents cheaper than a year ago. After recently falling as low as 20th in the country for most expensive fuel, Idaho now ranks 12th.
“32 states are below the $3 mark for gasoline, and a handful of other states, including Idaho, are just pennies away. Prices seem to be calming down after a holiday surge in demand last week,” says AAA Idaho public affairs director Matthew Conde. “Like a New Year’s Eve limbo contest, Idaho drivers are looking at pump prices and wondering, “How low will they go?”
The West Texas Intermediate benchmark for crude oil is now teetering between $71 and $72 per barrel, about $2 more than a week ago and $4 more than a month ago, but about the same price as a year ago.
According to the Energy Information Administration, U.S. refineries are running at 92.5% of capacity, or 0.7% more than the previous week. However, refineries in our region are currently operating at just 85.4% of capacity – 1.4% less than a week ago.
“It’s interesting that the lowest percentage of refinery production is happening in the Rockies region and along the West Coast, where fuel deliveries are already stretched out and more expensive,” Conde said. “We’ll continue to monitor the situation in the coming days and weeks, with the hope that the price of fill-ups will improve.”
Here’s a look at Idaho gas prices, as of Dec. 30:
Boise – $3.14
Coeur d’Alene – $2.81
Franklin – $3.08
Idaho Falls – $3.01
Lewiston – $3.06
Pocatello – $3.08
Rexburg – $3.06
Twin Falls – $3.09