Gas prices may be close to bottoming out

Idaho gas prices dropped to an average $2.50 per gallon at over 800 surveyed gas stations Sunday. According to Gas Buddy.Com, prices fell 5.5 cents per gallon in he past week.

Nationally, prices fell an average half-cent per gallon to an average price of $2.24 per gallon.

At that level, state prices were two cents lower than a year ago and 29.2 cents per gallon lower than a month ago.

But, experts said the downward trend may change soon.

“With oil prices back over $50 per barrel, it looks like gas prices in more areas may soon bottom out and start to tick higher. While it doesn’t seem that prices will rise very far, it looks more and more like the lowest price of the year may now be behind us,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “The national average briefly hit $2.22 per gallon last week, but will likely move up slightly or stabilize this week. Gas prices in the Great Lakes saw a noticeable jump last week and tend to see among the earliest trend changes in the country, which may be a harbinger of what’s to come for the rest of us.”

You can find current price averages here.