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Gas prices on the rise


IDAHO FALLS, Idaho (KIFI/KIDK) - Idaho gas prices jumped 11.2 cents per gallon in the past week, averaging $2.08 per gallon, according to the industry watchdog group GasBuddy.  

A survey of 802 Idaho gas stations showed prices 25.8 cents per gallon higher than a month ago, but $1.07.8 per gallon lower than a year ago. The national average price rose 5.5 cents per gallon to an average $1.96 per gallon Monday.

As states begin to rescind shelter-in-place health orders, people are filling up their gas tanks and pushing up demand.

"Since demand is a major ingredient in what drives gasoline prices and demand is likely to continue to rebound, it is also pushing the price of both crude oil and gas prices higher,” said Gas Buddy petroleum analyst Patrick DeHaan. “Unfortunately, thus far, refiners have started to input more crude oil into their refineries, but there has been some lag as refiners remain cautious on flooding the market with unwanted products. As long as COVID-19 cases continue to drop over time…I suspect it is only a matter of time before average price hits the $2 per gallon mark again- which could happen as early as this week."

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

You can monitor prices anywhere in the country here.

Article Topic Follows: Local News

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