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Idaho gas prices drop

Average Idaho gas prices dropped 1.9 cents per gallon in the past week to $3.17 per gallon Sunday.

GasBuddy surveyed 802 gas stations across the state. According to the watchdog, those prices were 44.6 cents per gallon higher than a year ago and 6.1 cents lower than a month ago. The national average price is unchanged during the past month.

But, all of that may change soon.

“With a muted response from OPEC to President Trump’s exhortation via Twitter that OPEC do something to reign in high oil prices, we may see energy markets rally as concerns grow that Iran’s sanctions effective in November may pose more a challenge to global supply than anticipated,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil prices jumped to fresh highs last night on reaction to the chilly reception to Trump’s concern, with several oil ministers downplaying the rise in oil prices. Moving forward, with Iran’s oil essentially out of reach, gas prices may not see the typical decline we had been expecting as recently as the last two weeks as new concerns emerge about the tightrope balance some oil producing countries are hoping for- pushing supply down as global demand rises. That’s not going to be good news for motorists.”

Average gasoline prices on September 24 in Idaho have ranged widely over the last five years:

$2.72/g in 2017 $2.42/g in 2016 $2.69/g in 2015 $3.66/g in 2014 $3.74/g in 2013

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

News Team

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