Gas prices continue downward trend

IDAHO FALLS, Idaho (KIFI/KIDK)-Idaho gas prices dropped 7.4 cents per gallon in the past week to an average $1.83 per gallon Monday.

According to GasBuddy price reports, Idaho prices were 46 cents per gallon lower than a month ago and $1.15.9 lower than a year ago. At the same time, national average prices dropped 4.4 cents per gallon in the past week to an average $1.74 Monday.

Gas Buddy petroleum analyst Patrick De Haan expects more downward potential.

"While much of the talk last week was about the West Texas Intermediate benchmark falling to $0 per barrel and then into negative territory, it was very isolated and oil eventually rebounded back to the current $15 per barrel level," said De Haan. "As a result, gasoline prices will likely remain subdued until meaningful demand for petroleum returns, and that may not be for weeks or perhaps longer. May 1 is another day where global supply drastically outpaces demand, flooding the market with more oil, prolonging the time gas prices will remain low- something that easily could last into the summer, when motorists may be better positioned to take advantage."

You can track local and national gas prices here.