Idaho gas prices dip below national average

BOISE, Idaho (KIFI/KIDK)-As national average gas prices hit a nine-month high, Idaho’s prices are still falling.  In fact, Idaho AAA reports the state’s average price is now a nickel cheaper than the national average.

Idaho’s average price, Monday, was $2.20 per gallon.  That is 9 cents less than a month ago and 48 cents less than a year ago.

The national average is $2.25, which is 12 cents more than a month ago, but 32 cents less than a year ago.

AAA says crude oil prices are rising in response to increased optimism about COVID-19 vaccines.  Both crude and gas prices are expected to react strongly with the rise or fall of infection rates and the impact of that on travel restrictions.

“The distribution of vaccines is starting to create some optimism in the marketplace, particularly when it comes to the price of crude oil,” says AAA Idaho spokesman Matthew Conde.  “Higher crude prices have combined with increased demand for gasoline to apply upward pressure on gas prices in some parts of the country.  But if there’s a silver lining, it’s that Idaho is often one of the last states to react to price swings on the national level.  Prices here may slide for a while longer.”

Crude oil is currently selling at $48 per barrel, its most expensive level since February.  It accounts for about half the cost of gasoline.

Here’s a selection of Idaho gas prices across the state as surveyed by AAA Monday:
Boise - $2.19
Coeur d’Alene - $2.06
Franklin - $2.23
Idaho Falls - $2.18
Lewiston - $2.33
Pocatello - $2.21
Twin Falls - $2.27