Idaho gas prices remain calm this week

The following is a news release from AAA Idaho.

BOISE – Idaho drivers have seen little change at the pumps lately, with the average price for regular gasoline dropping two cents this week after rising two cents last week.

According to AAA, the average price for a gallon of regular in the Gem State is $3.59, which is two cents less than a week ago, four cents more than a month ago, and 28 cents less than a year ago.

The national average currently sits at $3.50 per gallon, which is also two cents less than a week ago, but five cents more than a month ago and just nine cents cheaper than a year ago. As a result of stagnant prices in our state, Idaho fell two places to 13th in the country for most expensive fuel.

The most expensive gas is in California at $4.68 per gallon, and the cheapest in Mississippi at $2.99.

“It’s nice that our pump prices are still much better than a year ago, even with so many summer travel plans in motion,” says AAA Idaho public affairs director Matthew Conde. “Thankfully, we avoided major refinery disruptions when Hurricane Beryl reached the Gulf Coast, but we remain in the heart of hurricane season. As long as critical infrastructure is up and running, we have a good chance of supply continuing to keep up with demand.”

According to the most recent report by the Energy Information Administration, U.S. refineries are producing at 93.7% of capacity, and the Rockies region is at a whopping 98.7%. Steady production helps stabilize prices at the pump.

While record crowds traveled for the 4 th of July, extreme summer temperatures and wildfires may be dampening some enthusiasm to hit the road for quick getaways, with gasoline demand running about 1% lower than a year ago and slipping by about 600,000 barrels per day this week. Experts say that gasoline supplies are also 15 million barrels higher year over year.

“We don’t think that anyone is canceling the big vacations or the family reunions,” Conde said. “But with smoky conditions and scorching temperatures across the West, some of the spontaneous short-range trips to camp and play may not be as enticing right now.”

The West Texas Intermediate benchmark for crude oil is currently trading at $80 per barrel, which is $2 less than a week ago and $1 less than a month ago, but $3 more than a year ago. Lower gas demand and calm crude oil prices are helping keep pump prices down.

Here’s a look at Idaho gas prices, as of July 22:

Boise – $3.65
Coeur d’Alene – $3.43
Franklin – $3.51
Idaho Falls – $3.47
Lewiston – $3.52
Pocatello – $3.56
Rexburg – $3.53
Twin Falls – $3.59