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Idaho hit by record gas prices

MGN

IDAHO FALLS, Idaho (KIFI) - Idaho drivers continue to feel the pain at the pump. 

According to AAA, the state’s average price for a gallon of regular is $4.44 Monday, the highest on record. That’s four cents more than a week ago, and three cents more than a month ago.

Today, the Gem State ranks 9th in the country for most expensive fuel, trailing California ($5.69), Hawaii ($5.24), Nevada ($5.08), Washington ($4.69), Oregon ($4.67), Alaska ($4.65), Arizona ($4.55), and Utah ($4.51). 26 states are currently above the $4 mark.

Here’s a look at Idaho gas prices as of Monday:

  • Boise - $4.54
  • Coeur d’Alene - $4.09
  • Franklin - $4.45
  • Idaho Falls - $4.39
  • Lewiston - $4.20
  • Pocatello - $4.45
  • Rexburg - $4.50
  • Twin Falls - $4.52

The national average is $4.12, which is three cents more than a week ago, but 12 cents less than a month ago.

AAA says the cost of crude oil has remained above $100 per barrel for the past two weeks but is currently trading near $97 per barrel. Concerns over a COVID-induced economic slowdown in China and uncertainty in the global crude supply are contributing to significant market volatility.

“As long as we hover near $100 per barrel for crude, we’re not likely to see much relief at the pump,” AAA Idaho public affairs director Matthew Conde said. “Gas prices may teeter-totter back and forth over the next few weeks, but if crude oil is still expensive in the run-up to Memorial Day, rising fuel demand could push the price of fill-ups even higher.”

This week, U.S. gasoline demand increased slightly to 8.9 million barrels per day, while the domestic supply of crude oil fell by 8 million barrels. If those trends continue, both could lead to more expensive gas prices.

“There aren’t any great deals on fuel right now, but every little bit helps. Discounts are offered by all kinds of organizations, such as grocery chains, cell phone providers, credit card companies and the gas companies themselves,” Conde said. “Look for opportunities to use your regular purchases to ‘double-dip’ by earning rewards and saving a few bucks at the pump.”

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