Idaho gas prices plateau, for now
BOISE, Idaho (KIFI) – For Idaho drivers, the frustration at the pump continues. According to AAA, Monday’s average price for a gallon of regular in the Gem State is $4.15, just a penny less than the high for the year. Pump prices have hovered near $4.16 since the beginning of the month.
“Unfortunately, it’s hard to view the current lull with much optimism,” AAA Idaho public affairs director Matthew Conde said. “Higher than expected demand and the recent announcement by OPEC that crude oil production cuts will continue through the end of the year are pushing the price of crude higher. If that trend continues, we could be in for some more pain at the pump.”
Idaho’s average price is a penny less than a week ago, but nine cents more than a month ago. The national average is $3.83 per gallon, which is two cents more than a week ago and a penny less than a month ago.
Idaho ranks 9th in the country for most expensive gas behind California ($5.44), Washington ($5.07), Hawaii ($4.78), Oregon ($4.72), Nevada ($4.65), Alaska ($4.60), Arizona ($4.36), and Utah ($4.26).
Here’s a look at Idaho gas prices as of Monday:
- Boise - $4.19
- Coeur d’Alene - $4.09
- Franklin - $4.29
- Idaho Falls - $4.07
- Lewiston - $4.02
- Pocatello - $4.19
“There are any number of variables that could work against us right now,” Conde said. “If refineries experience any significant delays during the seasonal switch to winter-blend fuel, depleting inventory levels, or if a major hurricane makes landfall, or if crude oil and fuel demand hold steady or increase, we could see more expensive fill-ups to kick off the Fall.”
The West Texas Intermediate benchmark for crude oil is currently trading near $88 per barrel, which is $2 more than a week ago and $5 more than a month ago.
According to the Energy Information Administration, gas demand increased from 9 to 9.3 million barrels per day last week, while total gasoline stocks dropped by 3 million barrels. The EIA also estimates that world oil consumption has returned to 2019 levels. Lower supplies and higher demand may push crude oil and gasoline prices higher in the coming weeks.
You can find the lowest gas prices in the area HERE.
