Idaho gas prices under $4 mark on average and still falling
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The following is a news release from AAA.
BOISE – Amid the twinkling lights and holiday cheer, Idaho drivers are finding another reason to feel festive at the gas pump. According to AAA, Idaho’s average price for regular is now $3.94 per gallon, which is 17 cents less than a week ago and 36 cents less than a month ago. However, current prices are still 28 cents more than a year ago.
Meanwhile, the national average currently sits at $3.40 per gallon, which is 14 cents less than a week ago and 40 cents less than a month ago but just a nickel more than a year ago. Idaho currently ranks 7th in the U.S. for most expensive fuel behind Hawaii ($5.18), California ($4.77), Nevada ($4.48), Washington ($4.32), Oregon ($4.21), and Alaska ($4.13).
Falling fuel demand has helped tamp down gas prices, despite the continued high cost of crude oil.
“It’s encouraging that Utah, where most of Idaho’s gasoline supply is refined, is seeing an average price of $3.79 per gallon today,” says AAA Idaho public affairs director Matthew Conde. “Hopefully, the trend will continue, and Gem State prices will be even better in the run-up to the holidays.”
On Monday, the West Texas Intermediate benchmark for crude oil was trading near $79 per barrel, and the cost of crude has hovered near the $80 mark for the past couple of weeks. The current price is $13 per barrel cheaper than a month ago and $10 more than a year ago.
“If the threat of crude oil scarcity rattles the market, drivers could suffer the consequences,” Conde said. “OPEC recently announced that it will follow through on an agreement to cut crude production by two million barrels per day, and Russia has also threatened to withhold oil from any nation that attempts to cap its prices. While supply issues or a surge in holiday fuel demand could send pump prices higher, we’re keeping our fingers crossed that more savings are on the way.”
Here’s a look at Idaho gas prices as of 12/5/22:
- Boise – $3.99
- Coeur d’Alene – $3.59
- Franklin – $3.86
- Idaho Falls – $3.92
- Lewiston – $4.30
- Pocatello – $3.99
- Rexburg – $3.99
- Twin Falls – $3.99