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Eastern Idaho prices hold steady this week

MGN Online

IDAHO FALLS, Idaho (KIFI) – At first glance, Idaho gas prices were stable this week, with the state average increasing by just two cents. But things were much more volatile at the local level, with significant price jumps in some areas and little or no movement in others, according to AAA.

In the Treasure Valley, it’s about four cents more expensive per gallon to fill up this week, and anywhere from five to seven cents more in the Panhandle. Meanwhile, drivers in the Magic Valley and parts of Eastern Idaho are paying about the same to fill up as a week ago.

Idaho’s current price for regular is $3.14 per gallon, which is eight cents more than a month ago. The national average is $2.90, which is three cents more than a month ago. On the week, ten states saw prices increase by five to eight cents, but many states, including Idaho, saw increases of only one to three cents.

Here’s a selection of Idaho gas prices as of Monday:

  • Boise - $3.28
  • Coeur d’Alene - $2.93
  • Franklin - $3.13
  • Idaho Falls - $2.99
  • Lewiston - $3.00
  • Pocatello - $3.05
  • Twin Falls - $3.18

“We know that fuel demand is coming back strong, and currently sits just 4% below where it was at this time in 2019. But there will be fits and starts as travel activity resumes, even in different parts of the state, and we’re seeing some of that this week,” AAA Idaho public affairs director Matthew Conde said. “In the run-up to Memorial Day, we believe Idaho pump prices are likely to climb in response to an overall trend of robust demand.”

On the supply side, gasoline stocks increased by 100,000 barrels to reach the 135 million-barrel mark, and the Organization of the Petroleum Exporting Countries (OPEC) recently agreed to increase crude oil production by 2.1 million barrels per day in May and June, which could keep oil prices down and help stabilize the price of finished gasoline.

Today, crude oil is trading around $64 per barrel.

You can find the lowest gas prices in the area HERE.

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