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Gas prices fall, for now

Gas Prices
MGN Online

IDAHO FALLS, Idaho (KIFI/KIDK)-Idaho gas prices fell 2.2 cents per gallon over the past week, but the drop may not last long.

As of Sunday, gas prices averaged $2.43 per gallon across the state, 18.1 cents per gallon lower than a month ago and 13.5 cents per gallon higher than a year ago.

Gas Buddy petroleum analyst Patrick DeHaan says the U.S. targeting of an Iranian general last week could creat escalations of tension that may have an affect on gas prices moving forward.

"For now, there's been no physical disruption or retribution from Iran, but it has been promised," said deHaan. "Oil markets have risen on the rising risk of Iran retaliating, but until it happens, don't expect gas prices to see much of a jump. For now, I could see a small 5-10 cent per gallon increase over the next couple of weeks, but the real potential for fireworks at the pump will be contingent on retaliation, and whether that retaliation targets oil infrastructure like Iran struck last year. For now we're in limbo, but typically gas prices decline slightly in January and February thanks to seasonally weak gasoline demand."

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