2021 Idaho Gas Price News

The latest news on local, regional, and national gas and fuel prices for Idahoans

Updated 10/19/21

BOISE – It’s been another week of bad news for drivers across the country, but Idaho continues to buck the trend of rising gas prices – at least for now.  According to AAA, ten state averages jumped by a dime or more this week, and Ohio led the way with a staggering 15-cent increase.  Meanwhile, in a turn of relatively good fortune, Gem State prices dropped by half a penny over the same time period.

Today, the U.S. average price for regular is $3.34, which is six cents more than a week ago and 15 cents more than a month ago.  Idaho’s average price currently sits at $3.72, which is a nickel less than a month ago.  This week, the Gem State still ranks 6th in the nation for most expensive fuel.

“With the price of crude oil well above $80 per barrel, it’s getting very expensive to fill up,” says AAA Idaho public affairs director Matthew Conde.  “We haven’t taken a hit here like in other parts of the country, but the way things are going, it’s only a matter of time before the other shoe drops.”

The West Texas Intermediate benchmark for crude oil is currently trading near $82/barrel.  Domestic crude inventories are about 13 percent lower than this time last year, and tight supplies and concerns about future production are keeping the cost of crude high.  If stock levels dip this week, oil prices could climb even higher, bringing higher gas prices in the process.

As expected, the return of fall weather has lowered the demand for fuel, but the high price of crude oil continues to block big savings from reaching the pump.  International production cuts and predictions of a colder winter (and a forecasted increase in demand for products like heating oil on the East Coast) have stoked market uncertainty.

“If OPEC wasn’t operating under so many self-imposed production constraints, there would be another 8 or 9 million barrels of crude sitting in the market each day, and prices could be much better,” Conde said.  “But with the holidays just around the corner and a high likelihood of a busy automobile travel season, it feels like we could be heading for an ‘uh-oh’ moment.”

Here’s a look at Idaho gas prices as of 10/19/21:

  • Boise – $3.82
  • Coeur d’Alene – $3.42
  • Franklin – $3.69
  • Idaho Falls – $3.64
  • Lewiston – $3.40
  • Pocatello – $3.77
  • Twin Falls – $3.83

 

Updated 10/11/21

BOISE – There’s trouble brewing – according to AAA, $80 per-barrel crude oil triggered massive jumps in the price of gas in several states this week, and the national average remains at a seven-year high.  Experts now project that unlike a typical fall and winter, some parts of the country could see the highest pump prices of the year in the coming weeks.

OPEC (Organization of the Petroleum Exporting Countries) sent shockwaves through the market late last week when the group decided against an 800,000 barrel-per-day production increase for crude, opting instead for the 400,000-barrel bump that was previously agreed upon.  Crude oil accounts for half the price of a fill-up.

“This week, 17 states saw gas prices jump nine cents or more, which flies in the face of the usual pattern for this time of year,” says AAA Idaho public affairs director Matthew Conde.  “We’re fortunate that Idaho’s prices are still dropping, if only slightly, but our luck may run out soon.”

Today, the average price of regular fuel in the Gem State is $3.72, which is a penny less than a week ago, six cents less than a month ago and $1.34 more than a year ago.  Meanwhile, the U.S. average currently sits at $3.27, which is seven cents more than a week ago, nine cents more than a month ago, and $1.08 more than a year ago.  This week, Idaho traded places with Oregon, and the Gem State dropped to 6th place in the country for most expensive fuel.

In addition to the actions taken by OPEC, the market reacted to an announcement by the U.S. Department of Energy that the Biden Administration has no plans to ban crude exports or sell crude oil held in the U.S. Strategic Petroleum Reserve in order to put more supply into the domestic crude market.  The price of crude climbed even though stock levels increased this week, and if supplies tighten, prices could go even higher and cause further pain at the pump.

“If fuel demand plummets with the temperatures this fall, gas prices in the Rockies region, including here in Idaho, may trend down,” Conde said.  “But with everything that’s been going on and Thanksgiving just a little over six weeks away, it’s hard to predict huge savings in the near future.”

Here’s a selection of Idaho gas prices as of 10/11/21:

  • Boise – $3.84
  • Coeur d’Alene – $3.42
  • Franklin – $3.72
  • Idaho Falls – $3.65
  • Lewiston – $3.36
  • Pocatello – $3.79
  • Twin Falls – $3.83

 

Updated 10/4/21

BOISE – If gas prices throughout the year resemble a roller coaster ride, this is normally the time when Idaho drivers can look forward to taking a plunge.  But the high cost of crude oil may prevent a thrilling drop in seasonal gas prices and leave motorists stuck on the track.

According to AAA, the U.S. average price for regular fuel is at its most expensive in seven years as the price of crude oil climbs toward $78 per barrel today.  Market uncertainty and tight supplies are the cause of the higher crude prices, which make up about half the price of finished gasoline.

“Lately, the price to fill-up in Idaho has been slowly dropping, but with big jumps hitting so many other parts of the country, it may only be a matter of time before we follow suit,” says AAA Idaho public affairs director Matthew Conde.  “Hurricane activity and continued production cuts by OPEC have both played a part in keeping the price of crude oil high.”

Today, Idaho’s average price for regular is $3.73, which is two cents less than a week ago and seven cents less than a month ago.  Meanwhile, the U.S. average currently sits at $3.20, a penny more than a week ago and two cents more than a month ago.  This week, Ohio led the way with an 11-cent jump in pump prices, followed by Arizona (+7 cents) and North Carolina (+6 cents).  The Gem State currently ranks 5th in the country for most expensive fuel, slightly ahead of Oregon and Utah.

According to the Energy Information Administration, domestic gasoline stocks increased slightly last week, but so did fuel demand.  Crude oil supplies remain below pre-pandemic levels.

Oil Market Dynamics

In July, OPEC (Organization of the Petroleum Exporting Countries) agreed to increase crude oil production by 400,000 barrels per day as part of a plan to slowly eliminate 5.8 million barrels per day of ongoing cuts.  But the organization is now discussing an additional increase of 400,000 barrels per day beginning in November.  If a second increase takes effect, it could bolster market confidence and cause crude oil prices to fall, which in turn could lead to cheaper gas prices.

Here’s a selection of Idaho gas prices as of 10/4/21:

  • Boise – $3.85
  • Coeur d’Alene – $3.43
  • Franklin – $3.75
  • Idaho Falls – $3.66
  • Lewiston – $3.37
  • Pocatello – $3.78
  • Twin Falls – $3.83

 

Updated 9/27/21

BOISE – Idaho drivers saw relief at the pumps this week, but the feeling could be short-lived – according to AAA, the rising price of crude oil could keep gas prices high well into the fall.

Today, the average price for regular in the Gem State is $3.75 per gallon, which is two cents less than a week ago and a nickel cheaper than a month ago.  Meanwhile, the U.S. average currently sits at $3.19, a penny cheaper than a week ago and four cents less than a month ago.  While fuel demand is falling as people stay closer to home, pressure on the supply side is growing.

“OPEC’s crude oil production has been well short of expectations this year, and nearly 16 percent of production in the Gulf of Mexico is still offline in the aftermath of Hurricanes Ida and Nicholas,” says AAA Idaho spokesman Matthew Conde.  “Add in the reports that the Federal Reserve may raise interest rates in 2022 and end the bond-purchase program that’s been supporting the economy since the beginning of the pandemic, and you’ve got a really jittery market right now.”

The West Texas Intermediate benchmark for crude oil is currently trading above $75 per barrel.  The price of crude makes up about half the price of finished gasoline.

This week, gas prices fluctuated throughout the country, with the biggest changes in Michigan (+8 cents), Ohio (-8 cents), Indiana (-6 cents), Illinois (-5 cents), Kentucky (-5 cents), Nevada (-4 cents), Delaware (+3 cents), Florida (-3 cents), Maryland (+2 cents), and Utah (-2 cents).

“The return of cold weather could push fuel demand lower in the coming weeks, which may help balance the scales with rising crude oil prices,” Conde said.  “But in the short run, drivers could easily see pump prices teeter-totter back and forth.”

Here’s a selection of Idaho gas prices as of 9/27/21:

  • Boise – $3.86
  • Coeur d’Alene – $3.43
  • Franklin – $3.76
  • Idaho Falls – $3.68
  • Lewiston – $3.40
  • Pocatello – $3.79
  • Twin Falls – $3.84

 

Updated 9/20/21

Idaho Gas Prices Down Two Cents as Prices Surge Elsewhere

BOISE – Idaho gas prices defied the national trend this week, dropping two cents while the U.S. average went up by two cents.  But according to AAA, the fallout from a busy hurricane season continues to torment drivers at the pump, and there could be rough days ahead.

As expected, fuel demand fell after Labor Day, and currently sits at 8.9 million barrels per day – the lowest level since just before Memorial Day and the start of the summer driving season.  But Hurricanes Ida and Nicholas forced the precautionary closure of oil rigs and refineries in the Gulf of Mexico, where approximately 23 percent of offshore crude oil production remains offline.

“Production is slowly ramping up, but right now, crude oil stocks are at their lowest level since 2017, when Hurricane Harvey wreaked havoc in the Gulf,” says AAA Idaho public affairs director Matthew Conde.  “Tight supplies are driving up the price of crude oil, and the national average price for gasoline is now at a seven-year high.”

Today, Idaho’s average price for regular is $3.77, which is four cents less than a month ago and $1.32 more than a year ago.  Meanwhile, the U.S. average is $3.20, which is three cents more than a month ago and $1.02 more than a year ago.  The states with the largest weekly increases are Ohio (+11 cents), Florida (+10 cents), and Kentucky (+8 cents).  Idaho is one of just 15 states that saw the price of fill-ups drop from a week ago.

The West Texas Intermediate benchmark for crude oil is currently trading near $71 per barrel after hitting nearly $73/bbl just a few days ago.  If the price of crude remains at this level or rises, the price of gasoline will likely follow.

“It’s worth noting that we’re only at the halfway point of hurricane season, and we’ve already had 17 named storms,” Conde said.  “Depending on how things go, prices at the pump could be pretty wobbly heading into October.”

Here’s a selection of Idaho gas prices as of 9/20/21:

  • Boise – $3.88
  • Coeur d’Alene – $3.43
  • Franklin – $3.78
  • Idaho Falls – $3.70
  • Lewiston – $3.48
  • Pocatello – $3.79
  • Twin Falls – $3.87

 

Updated 9/13/21

When Will Idaho, U.S. Gas Prices Finally Start to Drop?

BOISE – This year, a drop in gas prices after Labor Day has been delayed by the effects of Hurricane Ida.  According to AAA, nationwide fuel demand is starting to slip, but the high price of crude oil due to production issues in the Gulf has kept drivers from saving at the pump.

Today, Idaho’s average price for regular is $3.79 per gallon, the same as a week ago and two cents cheaper than a month ago.  Prices in the Treasure Valley and Magic Valley remain much higher than the rest of the state.

Meanwhile, the U.S. average currently sits at $3.18, a penny less than a week ago and a month ago.  Today, the Gem State bears the dubious honor of ranking 6th in the country for most expensive fuel, behind California, Hawaii, Nevada, Washington, and Utah.

“If you’re a glass-half-full person, you appreciate that at least gas prices didn’t surge with the high price of crude oil and so much production capacity taken offline by Ida,” says AAA Idaho public affairs director Matthew Conde.  “There is some good news on the horizon – demand is expected to fall over the next month or so, and the switch to cheaper-to-make winter-blend fuel should help prices as well.  The big question is – when will the supply side of the equation start to cooperate?”

Utah, where most of Idaho’s finished gasoline is refined, saw a price drop of two cents per gallon this week, which could be a sign of cheaper prices to come in the Gem State.

Nearly 48% of crude oil production in the Gulf is still shuttered, and several refineries in the area are also in a weeks-long process to resume operations.  Today, the West Texas Intermediate benchmark for crude oil is trading near $70 per barrel.  If production issues continue, or if additional refinery capacity is impacted by the arrival of Tropical Storm Nicholas in Texas later this week, the price of crude oil and gas could increase, particularly in the regions most affected by the storm.

Here’s a selection of Idaho gas prices as of 9/13/21:

  • Boise – $3.89
  • Coeur d’Alene – $3.45
  • Franklin – $3.79
  • Idaho Falls – $3.73
  • Lewiston – $3.54
  • Pocatello – $3.80
  • Twin Falls – $3.90

 

Updated 8/30/21

Idaho, U.S. Average Gas Prices Stable Despite Hurricane Ida – For Now

BOISE – So far, the devastation caused by Hurricane Ida has been limited to the Gulf Coast region, with little change in the price of gas since the hurricane made landfall.  While regional shutdowns and infrastructure damage could drive up the national average over the next few weeks, AAA currently projects a lesser impact here in Idaho.

“Hurricanes are like throwing a rock into a pond.  The ripples are very disruptive at the point of impact, but get smaller as they spread farther out,” says AAA Idaho spokesman Matthew Conde.  “There’s no question that Ida has wreaked havoc, and the effects of shuttered refineries and oil rigs in the Gulf could be substantial in some areas, but hopefully we won’t feel it as much here.”

Today, Idaho’s average price for regular is $3.80, the same as a week ago and two cents higher than a month ago.  Meanwhile, the U.S. average currently sits at $3.15, which is a penny less than a week ago and two cents less than a month ago.  Prices in Louisiana jumped slightly over the weekend as drivers stocked up on fuel ahead of the storm.

Hurricane Ida has left more than a million people in Louisiana and Mississippi without power and has taken about 13% of U.S. refining capacity offline.  There were nine refineries in Ida’s path; at least four are believed to have temporarily shut down.  As an added precaution, the Colonial Pipeline shut down two main lines that run from Houston, TX, to Greensboro, NC.  Both distribute fuel products across the southeast U.S.

About 95% of the Gulf’s crude oil production was shuttered, with 288 of the 560 manned offshore platforms in the area evacuated.  Refineries and oil rigs can take weeks to come back online.

“Prices at the pump have been pretty calm lately, but they could fluctuate a bit in the run-up to Labor Day,” Conde said.  “It’s too early to know the full extent of the hurricane damage, and how it will impact crude oil and gas supplies down the road, but in any case, demand is going to be fairly strong in most parts of the country this week.  People are going to keep traveling until the weather turns or until school obligations or COVID-19 restrictions make it less possible to do so.”

Here’s a selection of Idaho gas prices as of 8/30/21:

  • Boise – $3.92
  • Coeur d’Alene – $3.47
  • Franklin – $3.84
  • Idaho Falls – $3.76
  • Lewiston – $3.52
  • Pocatello – $3.82
  • Twin Falls – $3.88

 

Updated 8/16/21

Idaho Gas Prices Hold Steady with a Penny Increase

BOISE – Idaho drivers saw little or no change at the pumps this week.  According to AAA, the Gem State’s average price for regular gasoline held steady over the last seven days, as did the national average.

While gasoline supplies fell this week, they were accompanied by a corresponding drop in demand, which kept prices stable.

Today, Idaho’s average price for regular is $3.82, which is 18 cents more than a month ago and $1.39 more than a year ago.  Meanwhile, the U.S. average currently sits at $3.19, which is three cents more than a month ago and $1.01 more than a year ago.  Right now, Idaho ranks 6th in the country for most expensive fuel.  In an unusual turn of events, both Utah and Idaho pump prices are currently more expensive than in Oregon.

“With the start of the school year and concerns about the rising number of COVID-19 infections, gas prices could start to settle down sometime after Labor Day.  But for now, market uncertainty is likely to create some twists and turns,” says AAA Idaho spokesman Matthew Conde.  “The only positive note is that things have been pretty quiet for the last couple of weeks, giving Idahoans at least a short reprieve from nearly constant price hikes.”

According to the Energy Information Administration, gasoline supplies fell by 1.3 million barrels nationwide last week.  But fuel demand also dropped to 9.4 million barrels per day over the same time period – about 500,000 barrels per day less than in 2019.

The high cost of crude oil continues to make fill-ups an expensive proposition.  The West Texas Intermediate is currently trading for about $67 per barrel.  Prices are slowly decreasing amid concerns that global crude demand may not rebound this year as anticipated.  If COVID-19 infection rates remain high, the price of crude could slide even further this week.

Here’s a selection of Idaho gas prices as of 8/16/21:

  • Boise – $3.93
  • Coeur d’Alene – $3.47
  • Franklin – $3.86
  • Idaho Falls – $3.78
  • Lewiston – $3.49
  • Pocatello – $3.84
  • Twin Falls – $3.90

 

Updated 8/9/21

Idaho Gas Prices Tap the Brakes with a Two-Cent Increase

BOISE –  In this case, no news is good news, as Idaho drivers saw little or no movement on the price of gas this week.  According to AAA, the state average price for regular increased by two cents to $3.81 per gallon, but gas prices were unchanged in highly populated areas like the Treasure Valley, the Magic Valley, and Idaho Falls.  One outlier was the Pocatello area, where prices increased by seven cents per gallon.

Gasoline demand is strong, with the latest report from the Energy Information Administration showing a 2% increase over the same time period in 2019, while gasoline stocks are 1% down from two years ago.  Demand is expected to remain high through at least Labor Day, and possibly longer.

Today, Gem State drivers are paying an average of $3.81, which is 24 cents more than a month ago and $1.38 more than a year ago.  Meanwhile, the national average currently sits at $3.19, which is a penny more than a week ago, a nickel more than a month ago, and $1.02 more than a year ago.  Pump prices fluctuated across the country this week, with some states seeing as much as a nine-cent increase to a seven-cent drop.

“The national average is the highest it’s been all year, but drivers in most states shouldn’t expect much sympathy here in Idaho,” says AAA Idaho public affairs director Matthew Conde.  “Even the latest trend of falling crude oil prices is bittersweet, because even though it may lead to cheaper gas prices at some point down the road, it’s based on market concerns surrounding the COVID-19 delta variant and the possibility of future lockdowns.”

At the close of Friday’s trading session, the West Texas Intermediate benchmark fell to $68 per barrel and is currently trading near $67.  If market pessimism continues, crude prices could continue to fall, further offsetting some of the upward pressure created by strong fuel demand.

Here’s a selection of Idaho gas prices as of 8/9/21:

  • Boise – $3.93
  • Coeur d’Alene – $3.45
  • Franklin – $3.87
  • Idaho Falls – $3.78
  • Lewiston – $3.47
  • Pocatello – $3.84
  • Twin Falls – $3.90

 

Updated 8/2/21

Treasure Valley, Magic Valley Gas Prices Near $4 per Gallon

BOISE – It’s a cruel, cruel summer.  That’s a lyric from a well-known song, and the feeling many Idahoans are getting during recent stops to fill up their gas tanks.  According to AAA, regular gasoline is currently selling for around $3.93 in the Treasure Valley, and $3.90 in the Magic Valley.  Both areas could hit the $4 mark as early as this week.

“Typically, people start making adjustments to their driving habits when the price hits the $3.50 mark, but we suspected that some travelers would be very determined this year, and that their pain threshold might be a little higher than usual,” says AAA Idaho spokesman Matthew Conde.  “Unfortunately, rising prices are reaching a point where some families may not have enough room in the budget for a vacation without making sacrifices in other areas.”

Today, Idaho’s average price is $3.79, which is five cents more than a week ago and 32 cents more than a month ago.  The national average currently sits at $3.18, which is just two cents more than a week ago and five cents more than a month ago.

“It’s not unheard of for Idaho’s average price to be 20 or 30 cents higher than the national average, but 61 cents is a big gap by any standard,” Conde said.

Idaho joins neighboring states Utah and Wyoming in skyrocketing gas prices, primarily as a result of strong fuel demand and tight supplies.  According to the Energy Information Administration’s latest report, the Rockies region’s gasoline stocks are currently under six million barrels, about 1.5 million barrels less than a year ago.

Today, crude oil is trading near $71 per barrel, which is $4 less than a month ago, and $30 more than a year ago.  While members of OPEC recently approved a modest increase in production (an additional 400,000 barrels per day beginning in August), it was well short of expectations.  If the price of crude remains high, it will continue to put upward pressure on gas prices.

Here’s a selection of Idaho gas prices as of 8/2/21:

  • Boise – $3.93
  • Coeur d’Alene – $3.42
  • Franklin – $3.88
  • Idaho Falls – $3.78
  • Lewiston – $3.48
  • Pocatello – $3.77
  • Twin Falls – $3.90

 

Updated 7/19/21

Idaho Gas Prices Jump Another 7 Cents as Summer Road Trips Continue

BOISE –  Idaho drivers got more bad news as they filled up their cars this week.  According to AAA, the state’s average price for regular increased by seven cents to $3.65 per gallon, the 6th highest jump in the country.  High demand continues to drive prices at the pump.

But there is some hope on the horizon – over the weekend, OPEC announced plans to increase crude oil production by 400,000 barrels per day in August, which could help slow the rising price of fuel.  Crude oil makes up about half of the price of finished gasoline.

“So far, a lot of people have been willing to accept the trade-off of higher gas prices in exchange for the opportunity to travel and to visit family, but the cost is starting to take its toll,” says AAA Idaho spokesman Matthew Conde.  “Even the folks with a ‘glass-half-full’ approach to the current situation are starting to see the cup run dry.”

On average, Idaho gas prices are 21 cents higher than they were at the beginning of the month.  Meanwhile, the national average only increased by a nickel over the same time period, and currently sits at $3.17 per gallon.

“It’s not unheard of for Idaho gas prices to be 20 or 30 cents higher than the U.S. average, but right now, they’re nearly 50 cents apart,” Conde said.  “In the short run, we’re not likely to see much relief on fill-ups here in the Gem State.”

AAA expects higher gas prices to be the norm throughout the summer, and prices could plateau sometime around Labor Day.  Most travelers won’t change their vacation plans this year, even if they have to pay more to reach their destination.

Last week, the price of crude oil fluctuated between $71 and $75 per barrel.  But OPEC’s weekend announcement may already be having an effect, with the West Texas Intermediate price currently trading near $67 per barrel.

Here’s a selection of Idaho gas prices as of 7/19/21:

  • Boise – $3.75
  • Coeur d’Alene – $3.41
  • Franklin – $3.78
  • Idaho Falls – $3.62
  • Lewiston – $3.43
  • Pocatello – $3.59
  • Twin Falls – $3.74

 

Updated 7/12/21

Record Fuel Demand Pushes Idaho, U.S. Gas Prices Higher

BOISE – Road trip season is off and running, taking gas prices along for the ride.  According to AAA, today’s price to fill up in Idaho is $3.58, which is nine cents more than a week ago and 30 cents more than a month ago.  Meanwhile, the national average currently sits at $3.15, which is two cents more than a week ago and seven cents more than a month ago.

AAA reports that gasoline demand across the country recently topped 10 million barrels per day for the first time on record.  According to the Energy Information Administration, the nearly one million barrel-per-day jump from the previous week dropped gasoline supplies by nearly six million barrels.  In response, gas and crude oil prices continued their upward trajectory.

“‘Turbulent’ isn’t a big enough word to describe what’s happening at the pumps these days,” says AAA Idaho public affairs director Matthew Conde.  “It’s clear that surging gas prices aren’t going to let up anytime soon, particularly in the Western states.”

With a nine-cent increase, Idaho drivers saw the 4th-largest jump at the pumps this week.  Utah, which supplies most of the Gem State’s fuel, led the way with an 11-cent increase.

On the week, nearly 25 state averages were up by at least two cents per gallon.  Prices range from $2.76 per gallon in Mississippi to $4.31 per gallon in California.

At the close of Friday’s formal trading session, the West Texas Intermediate price of crude oil increased by $1.62 to nearly $75 per barrel.  Members of the Organization of the Petroleum Exporting Countries (OPEC) continue to disagree over proposed production increases, putting further pressure on crude oil prices and, in turn, gas prices.

Here’s a selection of Idaho gas prices as of 7/12/21:

  • Boise – $3.67
  • Coeur d’Alene – $3.39
  • Franklin – $3.65
  • Idaho Falls – $3.49
  • Lewiston – $3.42
  • Pocatello – $3.54
  • Twin Falls – $3.67

 

Updated 7/6/21

Idaho Gas Prices Hit $3.50 for the First Time Since 2014

BOISE – Idaho drivers just reached a sobering milestone – according to AAA, the state’s average price for regular gasoline hit the $3.50 mark today.  The last time Idaho drivers paid that much to fill up was in October of 2014.

Strong fuel demand and the soaring cost of crude oil have contributed to higher gas prices both here and across the country.  AAA projects that gas prices could increase by another 10 to 20 cents through the end of August.

Gem State pump prices are up ten cents this week, the biggest increase in the country, with drivers paying 22 cents more per gallon to fill up than a month ago.  Meanwhile, the national average currently sits at $3.13, which is two cents more than a week ago and eight cents more than a month ago.  Idaho currently ranks 8th in the U.S. for most expensive pump prices, with nine of the ten biggest price jumps for the week happening in Western states.

“It’s bittersweet to finally have some great options for a road trip only to have to pay so much for the privilege,” says AAA Idaho spokesman Matthew Conde.  “We normally expect robust demand to push gas prices higher this time of year, especially after the travel restrictions that were put in place during the pandemic, but the high price of crude oil has poured some salt in the wounds.”

AAA says that crude prices have skyrocketed amid recent failures by OPEC (Organization of the Petroleum Exporting Countries) to negotiate a production increase.  The West Texas Intermediate benchmark for crude oil is currently trading near $73 dollars per barrel after hitting $75 over the holiday weekend.  If OPEC reaches an agreement to increase production soon, additional supplies could lower the price of crude and, in turn, gas prices.

Here’s a selection of Idaho gas prices as of 7/6/21:

  • Boise – $3.59
  • Coeur d’Alene – $3.37
  • Franklin – $3.59
  • Idaho Falls – $3.37
  • Lewiston – $3.41
  • Pocatello – $3.47
  • Twin Falls – $3.45

 

Updated 7/1/21

Idaho Gas Prices up Ten Cents in a Week Amid Booming July 4 Travel

BOISE – Independence Day travelers will notice big changes at the pump as they fill up on the way out of town, but higher gas prices won’t be enough to change any holiday plans.

According to AAA, Idaho’s average price for regular is $3.44, which is ten cents more than a week ago and 19 cents more than a month ago.  Meanwhile, the U.S. average currently sits at $3.12 per gallon, which is four cents more than a week ago and eight cents more than a month ago.  This Independence Day, motorists will pay the most to fill up since 2014.

Here’s a 7-year retrospective on July 4 gas prices:

past 7 years of Idaho Gas Prices

Higher fuel demand and soaring crude oil prices have placed significant upward pressure on gas prices, which are expected to rise throughout the weekend.

AAA projects that 48 million Americans will travel for the July 4 holiday, with 261,000 Idahoans among them.  That’s just 2.5% less than pre-pandemic levels and nearly 40% more than last year.  Automobile travel will set a new record this year, as many Americans will choose the safety and convenience of a road trip over the COVID-19 restrictions associated with airline travel and other modes of mass transportation.

“Our research shows that most Americans won’t make any adjustments to their travel plans until gas prices hit $3.50 per gallon, but given the many challenges that people have faced in the last year, we would expect the pain threshold to be even higher this time around,” says AAA Idaho public affairs director Matthew Conde.  “With ‘revenge travel’ and making up for lost time on everyone’s minds, we don’t see many plans changing based on higher pump prices.”

Thursday afternoon and Friday morning will be the busiest times for July 4 travel, as commuters and travelers share the roads.  July 5 will be the busiest day for return trips, because many Americans have Monday as an observed holiday this year.

Independence Day Travel Forecast 2021

Due to extreme temperatures throughout the West, AAA is placing special emphasis on proper hydration this year.  Please pack plenty of water and snacks for people and pets, and react quickly to any signs of heatstroke, including red skin, headaches, nausea, and a lack of sweating even though it’s hot.  Children and pets should never be left in a hot car.

“From personal experience, I can say that the National Parks are extremely busy right now,” Conde said.  “You need to arrive early for your best chance of getting into places like Arches National Park.  In my family’s case, we couldn’t enter the park in the morning, so we explored Canyonlands and came back later in the day.  If you do your homework, it’s usually possible to come up with a solid Plan B.  There are some lesser known gems out there.”

AAA reminds travelers that face coverings are still required at airports, on airplanes, and in many other public transportation venues, and that state and city requirements may differ from federal requirements.  For more information, check out AAA’s COVID-19 Travel Restrictions Map.

AAA to the rescue – common heat-related vehicle issues

Over the 4th of July weekend, AAA will respond to 461,000 calls for roadside assistance, with as many as 1,000 here in Idaho.  Flat tires, dead batteries, and vehicle lockouts are among the most common culprits.  Vehicle owners can take several steps to prevent a roadside mishap as the temperature spikes:

  • Engine over-heating. Cooling systems protect vital engine parts.  Coolant should be flushed and replaced periodically as recommended by the manufacturer.
  • Battery failure due to heat and vibration. Make sure the battery is securely mounted to minimize vibration.  A trained technician should test a battery that is three years old or older, as batteries can struggle to perform during extreme temperatures.
  • Blown tires. Make sure tires are inflated to the correct pressure as recommended by the vehicle manufacturer.  This information can normally be found in the owner’s manual and the driver’s doorjamb.  Check for signs of uneven wear, adequate tread depth, etc.
  • Air conditioning failure. Over time, refrigerant levels can run low, making your trip less comfortable.  Have your system tested if the vehicle cabin doesn’t cool as well as it should.  Replace the cabin air filter as needed to prevent debris from blocking the flow of air.

If your vehicle overheats, pull off to the side of the road in a safe location.  Normally, allowing the engine to idle will bring the temperature down rather quickly, but the presence of steam or coolant are signs of a more serious issue.  In that situation, the engine should be shut off and the vehicle towed to a repair facility for further diagnosis.

“We ask motorists who will celebrate the holiday with alcohol to please do so responsibly,” Conde said.  “Every year, there are road trips and boating excursions that end in tragedy.  We’re hopeful that people will take a few extra precautions this year to help everyone make it home safely.”

 

Updated 6/14/21

Idaho Gas Prices Up by a Penny, U.S. Average Jumps Three Cents

BOISE – Idaho drivers were able to catch their breath this week, as the state’s average gas price moved by just a penny.  But according to AAA, the reprieve from rising gas prices could be short-lived, as the price of crude oil recently hit a mark not seen in nearly three years.

“For the last month, gas prices have been in something of a lull – certainly higher than we’d like to pay, but not moving dramatically,” says AAA Idaho spokesman Matthew Conde.  “But the price of crude oil hit $70 per barrel this week – the highest price since October 2018, and $23 more per barrel than this past January.  Based on what we’re seeing, pump prices aren’t likely to peak until well into July.”

This week, Idaho’s average price for regular is $3.28, which is six cents more than a month ago and 98 cents more than a year ago.  The national average currently sits at $3.08, which is four cents more than a month ago and 98 cents more than a year ago.  The Gem State currently ranks 9th in the country for most expensive fuel.

AAA says that rising crude oil prices are the result of growing market confidence that the COVID-19 vaccine will restore economic activity, and in turn, the demand for finished gasoline.  The latest report by the Energy Information Administration revealed that domestic crude supplies dropped by 5.2 million barrels.  If inventories continue to decline, crude prices will continue to climb, putting additional upward pressure on gas prices.

“In a typical year, the price of fuel tends to level off sometime between Memorial Day and Independence Day.  Of course, this year and last have been anything but typical, and with so much pent-up travel demand, our customary summer spike in gas prices could be stickier than usual,” Conde said.  “Everyone’s waiting to see if OPEC and its allies, including Russia, follow through on their commitment to increase crude oil production.  If that happens, we could see prices stabilize.”

Here’s a selection of Idaho gas prices as of 6/14/21:

  • Boise – $3.41
  • Coeur d’Alene – $3.09
  • Franklin – $3.35
  • Idaho Falls – $3.10
  • Lewiston – $3.12
  • Pocatello – $3.29
  • Twin Falls – $3.25

 

Updated 6/7/21

Idaho Gas Prices Jump Three Cents, U.S. Average Up a Penny

BOISE –  Idaho drivers are already feeling pain at the pump, but according to AAA, rising crude oil prices could be a sign of even more expensive fill-ups to kick off the summer.

The price of crude oil is currently at $69 per barrel, the highest in the last 2 ½ years.  Crude oil makes up half the price of finished gasoline, and if the trend of higher crude prices continues, gas prices will likely follow.

“Now that COVID-19 vaccines are widely available and travel restrictions have eased substantially, many Americans are setting out on a long-awaited summer road trip.  To some extent, that feeling of optimism has made its way up the supply chain to crude oil prices,” says AAA Idaho spokesman Matthew Conde.  “We believe that the market will remain confident for the foreseeable future, but additional supply may come online to help keep demand in check.”

The Organization of the Petroleum Exporting Countries (OPEC) announced last week that member nations will continue to gradually increase crude oil production in July.  If they do, crude oil prices could stabilize or even decrease, helping motorists in the process.

Today, the Idaho state average for regular is $3.28, which is three cents more than a week ago and 11 cents more than a month ago.  The national average currently sits at $3.05, which is a penny more than a week ago and ten cents more than a month ago.  For the week, the Gem State saw the 7th-highest price jump in the U.S., with 26 states experiencing price movement of a penny or less.

“Fuel demand may ease up for the next couple of weeks, but it could be back with a vengeance as we get closer to the 4th of July weekend,” Conde said.  “In a year characterized by the concept of “revenge travel,” we don’t expect current prices to change many minds about taking a vacation.  Most people will adjust their budget in other ways to make a trip possible.”

Here’s a selection of Idaho gas prices as of 6/7/21:

  • Boise – $3.41
  • Coeur d’Alene – $3.07
  • Franklin – $3.35
  • Idaho Falls – $3.10
  • Lewiston – $3.09
  • Pocatello – $3.26
  • Twin Falls – $3.23

 

Updated 5/25/21

Memorial Day Gas Prices Will Be Most Expensive Since 2014

BOISE – The unofficial kick-off to the summer travel season is just around the corner, but with surging demand for fuel, rental cars, airfare, and hotel rooms, Memorial Day travelers should plan on paying more for the privilege.

Today, the U.S. average price for regular is $3.04, which is the same as a week ago and 15 cents more than a month ago.  Idaho’s average price is $3.24, which is a penny more than a week ago and 12 cents more than a month ago.  Idaho currently ranks 8th in the country for most expensive fuel.

AAA predicts that 37 million Americans will travel this Memorial Day weekend, including 202,000 Idahoans.  The 60 percent increase over 2020 is putting significant upward pressure on gas prices, and holiday travelers are expected to pay the most to fill up since 2014.

Here’s a seven-year retrospective of U.S. and Idaho gas prices on Memorial Day:

Memorial Day Idaho Gas Prices

“Everything is going to be more expensive this year, as many people finally have the opportunity to re-connect with family members or visit a beloved travel destination.  But we don’t believe that higher prices will change anyone’s mind about taking a trip,” says AAA Idaho spokesman Matthew Conde.  “People will simply make other adjustments to their budget in order to get some long-awaited rest and relaxation.”

According to the AAA Leisure Travel Index, daily rental car rates have doubled compared to last Memorial Day at an average price of $134.  A semiconductor shortage has impacted automobile production, and, in turn, rental car inventory and availability in some markets.

Average airfares are up 14 percent over last Memorial Day, and mid-range hotel room rates have increased between 29 and 34 percent, with average nightly rates of $140 for a AAA Two-Diamond property and $181 for a AAA Three-Diamond property.

“If you decide to be spontaneous and take a last-minute vacation without making any reservations, you could be in for some serious disappointment, not just now but throughout the summer,” Conde said.  “Please do your homework to pick out a destination or situation that’s right for you, then make your travel arrangements as soon as possible.”

In addition to state and national parks, Idahoans are likely to visit warm-weather destinations like Los Angeles, San Diego, Phoenix, Las Vegas, and Orlando over the holiday.  Gas prices are likely to be more expensive near major tourist attractions like mountains, beaches, and parks.

AAA reminds travelers to pack masks, hand sanitizer, and disinfectant wipes.  While some states and cities have or are about to lift mask regulations, some businesses and destinations may have their own requirements.  If you’re traveling by plane or staying in a hotel, consider wiping down high-touch surfaces to reduce the spread of sickness.

Travelers can consult AAA’s COVID-19 Travel Restrictions Map before setting out.

Crude Oil Dynamics

The price of West Texas Intermediate crude oil currently sits at $66 per barrel, which is four dollars more than a month ago.  Prices have fluctuated in recent days to as low as $62 per barrel, as optimism grows and wanes with global COVID-19 case counts and vaccine rollouts.  The market continues to be uncertain about future oil and gas demand in some parts of the world.

AAA to the rescue

Over the Memorial Day holiday, AAA will respond to 388,000 calls for roadside service nationwide, with about 720 calls here in Idaho.  Dead batteries, vehicle lockouts, and flat tires will be some of the most common issues.  It’s best to complete a pre-trip vehicle inspection before hitting the road.

Emergency kits can keep travelers safe and comfortable until help arrives.  AAA encourages motorists to replace old batteries in flashlights, swap out expired first aid materials, and take along snacks, water, and extra clothing.

Here’s a current snapshot of Idaho gas prices as of 5/25/21:

  • Boise – $3.40
  • Coeur d’Alene – $3.02
  • Franklin – $3.36
  • Idaho Falls – $3.09
  • Lewiston – $3.06
  • Pocatello – $3.18
  • Twin Falls – $3.22

 

Updated 5/17/21

Idaho Gas Prices up Four Cents, U.S. Average Jumps Eight

BOISE – As Gem State drivers return to the road in droves, gas prices continue to climb across the state.  According to AAA, Idaho’s average price for regular jumped four cents this week to $3.22, which is 14 cents more than a month ago.  Meanwhile, the U.S. average went up by eight cents to $3.05, which is 18 cents more than a month ago.  The national average is at its highest point in six years.

AAA says that growing fuel demand is pushing prices higher in Idaho and across the country, while some parts of the Eastern U.S. have also been affected by tight supplies in the aftermath of the Colonial Pipeline cyberattack.  While the pipeline is back online and stocks are slowly being replenished this week, resurgent Memorial Day travel and loosening COVID-19 restrictions mean that more-expensive fill-ups are here for the foreseeable future.

“When the CDC issued guidance that fully vaccinated persons can travel throughout the U.S. at little risk to their health, it sent a strong signal to many that it’s time for a vacation,” says AAA Idaho spokesman Matthew Conde.  “But the follow-up announcement that vaccinated people may also not need to wear masks in many indoor locations makes travel all the more enticing.  Gasoline is the lifeblood of any road trip, so we could see the floodgates open this spring and early summer.”

Crude oil, which is used to make gasoline and other products, is also getting more expensive.  Market optimism that demand will recover is pushing prices higher despite an increase in coronavirus infection rates in some countries.  If the optimism continues as vaccines are administered throughout the world, the price of crude oil could keep climbing.  Today, a barrel of West Texas Intermediate is trading near $66 per barrel, which is three dollars more than a month ago and nearly $40 more expensive than a year ago.

Here’s a selection of Idaho gas prices as of 5/17/21:

  • Boise – $3.35
  • Coeur d’Alene – $2.99
  • Franklin – $3.36
  • Idaho Falls – $3.08
  • Lewiston – $3.05
  • Pocatello – $3.18
  • Twin Falls – $3.19

 

Updated 5/10/21

Colonial Pipeline Cyberattack to Push U.S. Gas Average to $3 Mark

BOISE – Drivers across the Eastern seaboard are bracing for higher gas prices in the aftermath of a cyberattack on the Colonial Pipeline, but the effects aren’t likely to be felt here in Idaho.  While demand is pushing pump prices higher across the country, AAA says that the Gem State doesn’t rely on the pipeline that was targeted.

The national average is expected to reach $3 per gallon in the coming days, its most expensive price since November 2014.  Many Western states, including Idaho, crossed that threshold months ago.

“Despite an uptick in COVID-19 infection rates in some parts of the world, the overall optimism associated with the rollout of the vaccine has had a profound effect on the market,” says AAA Idaho spokesman Matthew Conde.  “Crude oil and gasoline demand are growing, and prices were already rising before this incident, so it’s a terrible time to have issues with a major pipeline.”

Today, the U.S. average is $2.97, which is seven cents more per gallon than a week ago and ten cents more than a month ago.  Meanwhile, Idaho’s average price is $3.18 per gallon, which is four cents more than a week ago and 12 cents more than a month ago.  Idaho drivers frequently pay 20 to 30 cents more per gallon to fill up than in other parts of the country.

The Colonial Pipeline suffered a breach in cybersecurity over the weekend, and as a precautionary measure, was taken offline.  The 5,500-mile pipeline, which runs from Texas to New York Harbor, transmits about 100 million gallons of fuel each day, or 45 percent of all fuel consumed on the East Coast.  The longer the pipeline is down, the larger the impact to supply and, in turn, the price of gasoline.  Some areas are likely to see reduced fuel availability as early as this week.

“It takes 15 to 18 days for fuel to flow from Texas to New York, so even after the pipeline is back online, there will probably be a lag in gasoline shipments,” Conde said.  “The Department of Transportation has temporarily granted an exemption from hours of service so that truck drivers can make more deliveries, but that won’t be enough offset the loss of the pipeline.”

Here’s a selection of Idaho gas prices as of 5/10/21:

  • Boise – $3.31
  • Coeur d’Alene – $2.97
  • Franklin – $3.27
  • Idaho Falls – $3.00
  • Lewiston – $3.04
  • Pocatello – $3.11
  • Twin Falls – $3.17

 

Updated 5/3/21

Treasure Valley, Panhandle Pump Prices Jump

BOISE – At first glance, Idaho gas prices were stable this week, with the state average increasing by just two cents.  But things were much more volatile at the local level, with significant price jumps in some areas and little or no movement in others.

In the Treasure Valley, it’s about four cents more expensive per gallon to fill up this week, and anywhere from five to seven cents more in the Panhandle.  Meanwhile, drivers in the Magic Valley and parts of Eastern Idaho are paying about the same to fill up as a week ago.

Idaho’s current price for regular is $3.14 per gallon, which is eight cents more than a month ago.  The national average is $2.90, which is three cents more than a month ago.  On the week, ten states saw prices increase by five to eight cents, but many states, including Idaho, saw increases of only one to three cents.

“We know that fuel demand is coming back strong, and currently sits just 4% below where it was at this time in 2019.  But there will be fits and starts as travel activity resumes, even in different parts of the state, and we’re seeing some of that this week,” says AAA Idaho public affairs director Matthew Conde.  “In the run-up to Memorial Day, we believe Idaho pump prices are likely to climb in response to an overall trend of robust demand.”

On the supply side, gasoline stocks increased by 100,000 barrels to reach the 135 million-barrel mark, and the Organization of the Petroleum Exporting Countries (OPEC) recently agreed to increase crude oil production by 2.1 million barrels per day in May and June, which could keep oil prices down and help stabilize the price of finished gasoline.

Today, crude oil is trading around $64 per barrel.

Here’s a selection of Idaho gas prices as of 5/3/21:

  • Boise – $3.28
  • Coeur d’Alene – $2.93
  • Franklin – $3.13
  • Idaho Falls – $2.99
  • Lewiston – $3.00
  • Pocatello – $3.05
  • Twin Falls – $3.18

 

Updated 4/27/21

Idaho, U.S. Gas Prices Climb with Rising Demand

BOISE – It’s a familiar sight at gas pumps across the country – rising prices.  According to AAA, Idaho’s average price went up by four cents this week, while the national average increased by two cents.  Rising demand is the primary cause of the higher prices.

At more than nine million barrels per day, the nationwide demand for fuel is now just three percent below the same week in 2019.  Supply and demand both increased this week, but gasoline stocks only grew by 100,000 barrels as more drivers spend time on the road amid the continued rollout of the COVID-19 vaccine and the re-opening of popular tourist destinations.

Today, the Idaho average is S3.13, which is nine cents more than a month ago and $1.29 more than a year ago.  Meanwhile, the U.S. average price is $2.89, which is three cents more than a month ago and $1.12 more than a year ago.  This week, 35 states saw pump prices move by just a penny or two, with the Gem State an unfortunate exception to the rule.

“Crude oil prices have held steady in recent weeks, and refineries are back to pre-pandemic levels, so the supply-side pressure that we faced this winter has been pretty much resolved,” says AAA Idaho spokesman Matthew Conde.  “But with the CDC’s recent announcement that fully-vaccinated persons can travel across the country at minimal risk to their health, and rumors that Europe will re-open this summer, demand is going to build, and the other shoe could be about to drop.”

The West Texas Intermediate price for crude oil currently sits at $62 per barrel, which is $1 more than a month ago and $40 more than a year ago during the heart of the pandemic.  U.S. refineries are currently operating near 85 percent of capacity.

Here’s a selection of Idaho gas prices as of 4/27/21:

  • Boise – $3.26
  • Coeur d’Alene – $2.87
  • Franklin – $3.16
  • Idaho Falls – $3.00
  • Lewiston – $2.95
  • Pocatello – $3.06
  • Twin Falls – $3.19

 

Updated 4/20/21

Idaho Gas Prices Inch Higher, U.S. Average Holds Steady

BOISE – Idaho gas prices are once again on the move, albeit slightly.  According to AAA, the state average was up two cents this week, the result of rising fuel demand and climbing crude oil prices.  Idaho is one of 16 states that saw prices fluctuate by a penny or two this week, while 27 state averages held steady.

“Continued roll-out of the COVID-19 vaccine has given some folks a touch of spring fever, especially with the recent news from the CDC that fully-vaccinated persons can travel in the United States at a fairly low risk to their health,” says AAA Idaho spokesman Matthew Conde.  “That optimism translates into more travel activity and more fill-ups, which puts upward pressure on gas prices.”

Today, Idaho’s state average sits at $3.09, which is two cents more than a week ago and nine cents more than a month ago.  Meanwhile, the U.S. average is $2.87, which is a penny more than a week ago but a penny less than a month ago.  Idaho currently ranks 8th in the country for most expensive fuel.

Fuel demand recently hit 8.9 million barrels per day, the highest level in more than a year.

One silver lining has been the return of increased refinery production.  At 85 percent of capacity, operations now match pre-pandemic levels.  That should help stabilize fuel supplies, even if they start to shrink due to increased demand.

After weeks of hovering near the $60-mark, crude oil prices have now spent several days selling at $63 per barrel.  Domestic crude inventories also decreased by nearly six million barrels this week.  If crude prices continue to climb, drivers can expect small increases at the pump throughout April.

Here’s a selection of Idaho gas prices as of 4/20/21:

  • Boise – $3.23
  • Coeur d’Alene – $2.80
  • Franklin – $3.15
  • Idaho Falls – $2.99
  • Lewiston – $2.87
  • Pocatello – $3.06
  • Twin Falls – $3.16

 

Updated 4/12/21

Idaho Gas Prices Tap the Brakes

BOISE – March went out like a lion, but so far, Idaho drivers have faced much better conditions at the pump in April.  According to AAA, the Gem State’s average price for regular held steady at $3.06 per gallon this week, while the national average decreased by a penny.  In fact, 40 states saw prices fluctuate by a penny or less.

Idaho’s average price is 21 cents more than a month ago, and $1.02 more expensive than a year ago.  Meanwhile, the U.S. average is $2.86, which is two cents more than a month ago and a dollar more than a year ago.

AAA says that steady crude oil prices, a slight dip in fuel demand, and increased refinery production caused gasoline stocks to build this week, which helped stabilize pump prices.  Demand currently sits at 8.7 million barrels per day, which is much higher than the 5.5 million barrels per day from a year ago, but significantly less than the 9.8 million barrels per day recorded in April 2019.  Refinery production recently hit 84 percent of capacity, the highest level this year.

“We believe that April fuel demand will remain below where it was in 2019, because even though there’s growing confidence in the vaccine rollout, we’ve still got a way to go before everything gets back to normal,” says AAA Idaho spokesman Matthew Conde.  “That said, fuel demand could certainly spike in the spring and summer, and if it does, gas prices could be on the move again.”

The West Texas Intermediate price for crude oil stayed below $60 per barrel for five days in a row this week.  Crude oil makes up about half the price of finished gasoline.

Gas prices in the Treasure Valley and Lewiston were down a penny this week and dropped by two cents in Pocatello and Coeur d’Alene.  Idaho Falls prices were up a penny, and Twin Falls prices jumped a nickel.

Here’s a selection of Idaho gas prices as of 4/12/21:

  • Boise – $3.19
  • Coeur d’Alene – $2.69
  • Franklin – $3.16
  • Idaho Falls – $2.99
  • Lewiston – $2.81
  • Pocatello – $3.05
  • Twin Falls – $3.15

 

Updated 4/5/21

Idaho Gas Prices are Slowing Down

BOISE –  After months of soaring gas prices, Idaho drivers were finally able to catch their breath, at least a little, this week.  According to AAA, the state average increased by just three cents, the smallest weekly jump since January.

But the slowdown could be short-lived – increased demand due to the rollout of COVID-19 vaccines and the start of road trip season may push pump prices even higher in the weeks ahead.

“No one’s happy about paying more to fill up, but after several weeks in a row of nickel increases and some big double-digit jumps in March, it kind of feels like we got to hit the ‘pause’ button this week,” says AAA Idaho public affairs director Matthew Conde.  “But the weather’s getting warmer, and growing demand has the potential to create another wave of significant price hikes.”

Today, Idaho’s average price for regular is $3.06 per gallon, which is 36 cents more than a month ago and 85 cents more than a year ago.  The national average increased by a penny to $2.87 per gallon, which is 12 cents more than a month ago and 93 cents more than a year ago.  States experienced a wide range of fluctuating prices this week, from a 15-cent increase in Ohio to a three-cent reduction in Florida.

Gasoline demand was reported at 8.9 million barrels per day this week, an increase of 4% from the week prior.  In response, gasoline stocks tightened to 230.5 million barrels, the lowest level this year.  If demand keeps climbing, supplies could shrink even further, raising prices in the process.

“On a positive note, crude oil prices have leveled off somewhat, keeping a bad situation from getting worse.  After hitting a 12-month high at $66 per barrel last month, the price has been hovering closer to $60 per barrel lately,” Conde said.  “If crude holds steady, that could help keep the price of finished gasoline from being quite so chaotic this spring and summer.”

OPEC (Organization of the Petroleum Exporting Countries) recently announced plans to increase oil production by 350,000 barrels per day in May, which could further stabilize prices at the pump.

Here’s a selection of Idaho gas prices as of 4/5/21:

  • Boise – $3.20
  • Coeur d’Alene – $2.71
  • Franklin – $3.17
  • Idaho Falls – $2.98
  • Lewiston – $2.82
  • Pocatello – $3.07
  • Twin Falls – $3.10

 

Updated 3/29/21

Idaho Gas Prices Back in Top Ten Most Expensive

BOISE – Idaho drivers received more frustrating news as they filled up this week, with gas prices increasing by another nickel to hit an average of $3.04 per gallon.  According to AAA, that’s 45 cents more than a month ago, and 70 cents more than a year ago (when COVID-19 restrictions were imposed).  The Gem State now ranks 10th in the country for most expensive fuel.

But there may be some good news on the horizon.  This week, gas prices decreased or held steady in 45 states, and the U.S. average dropped two cents to $2.86 per gallon amid stabilizing crude oil prices and increased refinery production.  If the trend continues, Idaho prices could follow suit.

“Rising pump prices have been a bitter pill for Idaho drivers to swallow, but it’s encouraging that the national average is cheaper week-over-week for the first time since November of last year,” says AAA Idaho spokesman Matthew Conde.  “While it’s too early to know how strong the fuel demand will be this spring and summer, we’re hopeful that some of the supply-side issues are finally being resolved, which could relieve some of the upward pressure on gas prices.”

Today, the U.S. average is 14 cents more expensive than a month ago, and 84 cents more than a year ago.  The gap in year-over-year gas prices will continue to widen in the coming weeks, with fuel demand plummeting in 2020 during the heart of the pandemic.

While fuel demand is currently on the rise and now sits at 8.6 million barrels per day, refinery production has increased to 82 percent capacity, helping to keep prices steady at the pump.

Crude oil prices fluctuated throughout the week in response to reports of potential European Union lockdowns and tight vaccination supplies in some areas, dipping as low as $58 per barrel at one point.  West Texas Intermediate crude is now trading near $61 per barrel, the same as a month ago.

While a container ship blocked the Suez Canal for a few days, causing a temporary delay in crude oil deliveries in some parts of the world, the United States is unlikely to be affected.

Here’s a selection of Idaho gas prices as of 3/29/21:

  •  Boise – $3.15
  • Coeur d’Alene – $2.71
  • Franklin – $3.19
  • Idaho Falls – $2.98
  • Lewiston – $2.83
  • Pocatello – $3.05
  • Twin Falls – $3.08

 

Updated 3/22/21

Idaho Gas Prices Near $3 Mark, But the Surge May Be Slowing

BOISE –  It’s been a rough winter for Idaho drivers, with the Gem State’s average gas price about to hit the $3 mark.  But after several weeks of rising prices here and across the country, AAA says that things could finally be starting to level off.

According to AAA, the national average has held steady at $2.88 for five days in a row.  A slight dip in fuel demand has combined with increased refinery production to raise gasoline stocks and slow down price hikes.  In fact, 32 states had increases of three cents or less this week, but sadly, Idaho was not among them.

Idaho’s average price of $2.99 per gallon is 50 cents more than a month ago and 52 cents more than a year ago.  Meanwhile, the U.S. average is $2.88, which is 24 cents more than a month ago, and 74 cents more than a year ago, when the pandemic was beginning to take hold.  The Gem State currently ranks 12th in the country for most-expensive fuel.  But AAA says there is a silver lining.

“Idaho’s average price jumped another ten cents this week, but our region is also one of the last to react to national trends, so we’re hopeful that steady prices elsewhere are a sign that things could calm down here in the coming weeks,” says AAA Idaho spokesman Matthew Conde.  “A lot of that will depend on how aggressively fuel demand returns with the start of road trip season.”

After being hard-hit by winter storms, refinery production rates are back up to 76 percent, which is just seven percent less than before some facilities were forced to shutter their operations back in February.  On the week, gasoline stocks also increased slightly to 232 million barrels, and the price of crude oil was about $2 per barrel cheaper, further stabilizing prices at the pump.

Travelers can use the AAA COVID-19 map for the latest information on state and local restrictions.

Here’s a selection of Idaho gas prices as of 3/22/21:

  • Boise – $3.10
  • Coeur d’Alene – $2.71
  • Franklin – $3.19
  • Idaho Falls – $2.91
  • Lewiston – $2.80
  • Pocatello – $2.95
  • Twin Falls – $3.04

 

Updated 3/15/21

Idaho Gas Prices Post 2nd-Highest Weekly Increase in U.S.

BOISE – $3-per-gallon gas has arrived in the Treasure Valley, and the state average is likely to follow.  According to AAA, Idaho gas prices shot up another 17 cents in the last week – the 2nd-highest jump next to Utah, where prices are up by a quarter.

Today, Gem State drivers are paying an average of $2.89 per gallon, which is 45 cents more than a month ago and 35 cents more than a year ago, when demand plummeted in the early stages of the pandemic.  The current U.S. average is $2.86, which is 35 cents more than a month ago and 59 cents more than a year ago.  This week, 20 states experienced double-digit price jumps.

Reports of diminishing gasoline stocks and growing fuel demand pushed the price of gasoline higher this week, and soon, the country will also make the switch to summer-blend fuel, which is more expensive to produce.

“We hope life will start getting back to normal sometime this spring or summer, and rising temperatures are certainly enough to put a smile on anyone’s face, but the feeling fades when we stop to fill up,” says AAA Idaho spokesman Matthew Conde.  “We believe that the state average price for regular could top $3 per gallon in the next couple of weeks.”

According to the Energy Information Administration, gasoline stocks dropped by nearly 12 million barrels this week, and fuel demand currently sits at 8.7 million barrels per day.  That’s the highest level since the end of November 2020, which coincided with a modest amount of Thanksgiving travel.  With Spring Break fast approaching, many Americans will start taking road trips to areas that are in the various phases of re-opening, which could push the demand for fuel even higher.

Meanwhile, crude oil prices showed signs of stability, hovering between $64 and $66 per barrel throughout the week.  If the price of crude holds steady and refinery production ramps up, gas price increases in April could be less severe than they’ve been in March.

Here’s a selection of Idaho gas prices as of 3/15/21:

  • Boise – $3.01
  • Coeur d’Alene – $2.69
  • Franklin – $2.97
  • Idaho Falls – $2.78
  • Lewiston – $2.73
  • Pocatello – $2.88
  • Twin Falls – $2.82

 

Updated 3/11/21

Idaho Gas Prices Now Higher than the National Average

BOISE – Idaho gas prices are higher than the national average today.  According to AAA, the state’s average price for regular is $2.84, while the current U.S. average is $2.83.  In the last ten days, Gem State prices have skyrocketed by 24 cents, while the national average increased by ten cents in the same time period.

Idaho prices dipped below the national average on December 22 last year, where they remained until today.  While prices across the country have been steadily climbing due to rising crude oil prices, market speculation about the end of the COVID-19 pandemic, and refinery issues during recent winter storms, Gem State drivers could at least take comfort in the fact that they were paying less than many of their U.S. counterparts.  That is no longer the case.

“At one point in time, Idaho ranked 36th in the country for most expensive fuel, which was a welcome break from our usual position in the 7th to 9th-place range.  Today, we’re all the way back up to 15th,” says AAA Idaho public affairs director Matthew Conde.  “We’ve seen a lot of supply-side issues that have put upward pressure on gas prices, but with fuel demand expected to rise and the upcoming switch to more-expensive summer-blend fuel, things are going to get pretty bumpy.”

Crude oil prices are rising in part due to ongoing production cuts by the Organization of the Petroleum Exporting Countries (OPEC).  At the end of last week, the organization made a surprise announcement to add just 170,000 barrels of crude oil per day even though market observers expected an increase of 1.5 million barrels.  The news sent shockwaves through the market.

Summer-blend gasoline is more expensive to produce because it requires additional processes to prevent it from evaporating at high temperatures.

“AAA’s previous research shows that most people won’t consider changing their driving behavior until prices reach $3.50 per gallon,” Conde said.  “While we could hit the $3 mark this spring, we don’t expect that to deter many people who have made the decision to take a road trip.”

Here’s a selection of Idaho gas prices as of 3/11/21:

  • Boise – $2.95
  • Coeur d’Alene – $2.66
  • Franklin – $2.88
  • Idaho Falls – $2.72
  • Lewiston – $2.71
  • Pocatello – $2.83
  • Twin Falls – $2.81

 

Updated 3/8/21

Idaho Gas Prices Jump Another 12 Cents This Week

BOISE – For many Idaho drivers, the days of cheaper gas prices are officially in the rearview mirror.  According to AAA, the Gem State’s average price for regular jumped another 12 cents to $2.72 per gallon this week.  That’s 33 cents more than a month ago, and an eye-popping 50-cent increase since January 1.

“Drivers can expect higher prices at the pump this spring, particularly as consumer confidence is restored with the rollout of COVID-19 vaccines.  Barring the unexpected, the national average could hit $2.90 or even $2.95 per gallon before things start to level off,” says AAA Idaho spokesman Matthew Conde.  “Based on historical trends, Idaho prices could top the $3-per-gallon mark in the coming weeks and months.”

Today, the U.S. average price is $2.77, which is 30 cents more than a month ago and 38 cents more than a year ago.  About 1 in 10 gas stations are currently charging pump prices of $3/gallon or more.  AAA projects that by the end of the month, drivers in up to 30 states could be paying 50 cents more per gallon to fill up than they did a year ago.

“The biggest increase this week was in Utah, where the state average jumped by 21 cents per gallon,” Conde said.  “That’s worth watching, because most of Idaho’s supply comes from Utah.”

Idaho’s average price is still five cents cheaper than the national average.  After dropping as low as 36th in the country this winter, the Gem State currently ranks 23rd for most expensive gas prices.

Crude oil prices reacted sharply to OPEC’s (Organization of the Petroleum Exporting Countries) surprise announcement that the organization will produce just an additional 170,000 barrels of oil per day in April, far less than the 1.5 million barrel-per-day increase that was anticipated.  The announcement sent the West Texas Intermediate price for crude oil up to $66 per barrel, which is $15 per barrel more than at the beginning of the year.  If participating countries continue to support existing production cuts, rising demand could push prices even higher this spring.

In addition to the rising cost of crude oil, recent winter storms reduced refinery capacity to 56 percent at one point in time, and gasoline stocks have now dropped below where they were a year ago.  Both are putting additional upward pressure on gas prices.

“Treasure Valley and Idaho Falls gas prices are up 12 to 13 cents this week, about the same as the state average,” Conde said.  “Gas prices in the Twin Falls and Franklin areas shot up by 19 cents per gallon, and Pocatello pump prices increased by 16 cents.  But right now, Idaho Falls and Coeur d’Alene are the envy of the state at about $2.59 per gallon.”

Here’s a selection of Idaho gas prices as of 3/8/21:

  •  Boise – $2.81
  • Coeur d’Alene – $2.59
  • Franklin – $2.68
  • Idaho Falls – $2.58
  • Lewiston – $2.67
  • Pocatello – $2.68
  • Twin Falls – $2.65

 

Updated 3/1/21

Idaho Gas Prices Up by a Dime or More

BOISE – In a delayed reaction from the effects of winter storms across the Mid-West and Gulf Coast, surging gas prices hit Idaho hard this week.  The state average is up ten cents for a gallon of regular, and drivers in some areas are paying 12 to 18 cents more than a week ago.

“Last week, Idahoans were able to avoid the double-digit increase that drivers faced in two-thirds of the states, but no longer,” says AAA Idaho spokesman Matthew Conde.  “Whether you live in the Treasure Valley (+10 cents), the Coeur d’Alene area (+12 cents), Twin Falls (+12 cents), Idaho Falls (+12 cents), Lewiston (+16 cents), Pocatello (+17 cents) or Franklin (+18 cents), you’re definitely feeling the sting if you fill up today.”

For the first time in nearly a year, Idaho pump prices are now more expensive than they were a year ago.  Today, regular gas costs an average of $2.60 per gallon in the Gem State, which is 15 cents more than a month ago and seven cents more than a year ago.  The U.S. average is $2.72, which is 30 cents more than a month ago and 28 cents more than a year ago.  Idaho prices are still 12 cents cheaper than the national average.

AAA says that rising crude oil prices and abnormally low refinery production have pushed prices higher across the country.  According to the Energy Information Administration, refinery utilization dropped from 83 percent to 68 percent following winter storms that took 26 U.S. refineries offline.

“AAA forecasts that the national average will hit $2.80 per gallon sometime in March.  Idaho prices are sometimes 20 to 30 cents higher than the national average, so we could hit the $3 mark at some point, but time will tell,” Conde said.  “With this kind of incredible volatility, there’s a chance that March could bring some of the highest pump prices of 2021.”

Drivers can use the AAA Fuel Price Finder to compare the latest gas prices at more than 100,000 stations in the United States.

Here’s a selection of Idaho gas prices as of 3/1/21:

  • Boise – $2.68
  • Coeur d’Alene – $2.54
  • Franklin – $2.49
  • Idaho Falls – $2.46
  • Lewiston – $2.61
  • Pocatello – $2.52
  • Twin Falls – $2.46

 

Updated 2/22/21

Icy Temperatures Cause Gas Prices to Spike Nationwide

BOISE – While Idaho gas prices continue to climb, there was some good news at the pump this week – so far, the Gem State is among the least affected by freezing conditions that are currently sweeping the country.  According to AAA, recent winter weather forced the shutdown of refineries across the Gulf Coast and Mid-West, with tighter fuel supplies triggering a double-digit spike in gas prices for two-thirds of the country.

But the Rocky Mountain region, which includes Idaho, has been mostly insulated from the effects of the freeze.  In fact, Idaho currently ranks 36th in the country for most-expensive fuel, well below the usual ranking in the 7th to 9th-place range.  Some neighboring states have fared even better, such as Wyoming (39th place), Montana (42nd place), and Utah (45th place).  Even so, everything is relative, because gas prices are still rising everywhere based on the higher cost of crude oil.

“Idaho drivers have had to deal with a 20-cent price increase in the span of a month, but some drivers in other parts of the country have seen prices jump that high just in the last week,” says AAA Idaho spokesman Matthew Conde.  “But as conditions improve, the Mid-West and Rocky Mountain regions could easily trade places in the rankings in the coming weeks.”

This week, the average price for regular in Idaho went up five cents to $2.49, which is 19 cents more than a month ago and just three cents less than a year ago.  Meanwhile, the national average jumped 13 cents in the last week to $2.64, which is 24 cents more than a month ago and 17 cents more than a year ago.  The top three largest weekly increases were in Ohio (+22 cents), Arizona (+21 cents), and Iowa (+19 cents).

Drivers can use the AAA Fuel Price Finder to compare the latest fuel prices at more than 100,000 stations in the United States.

Here’s a selection of Idaho gas prices as of 2/22/21:

  • Boise – $2.58
  • Coeur d’Alene – $2.42
  • Franklin – $2.31
  • Idaho Falls – $2.34
  • Lewiston – $2.55
  • Pocatello – $2.35
  • Twin Falls – $2.44

 

Updated 2/16/21

Idaho Gas Prices Up 20 Cents in a Month, Biggest Increase in the Country

BOISE – Idaho drivers may be tempted to do a double-take the next time they fill up.  According to AAA, the Gem State saw the biggest monthly increase in the U.S. with a 20-cent jump in gas prices.  The rising cost of crude oil continues to put upward pressure on the price of fuel.  In fact, 2021 crude oil prices could top the highest price in 2020 as early as this week.

Crude oil accounts for 50 percent of the price at the pump, and the West Texas Intermediate has been steadily climbing since the beginning of the year despite relatively low fuel demand.  Currently, a barrel of crude is trading near $60 a barrel, up $12 a barrel from January 1.

“There is strong market optimism that COVID-19 vaccines will help restore economic activity and bring some demand for fuel back online, but right now, demand is pretty modest – just 7.7 million barrels per day,” says AAA Idaho spokesman Matthew Conde.  “This week’s cold weather may drop demand even more in the short term, but freezing conditions have also interrupted refinery activity and distribution in parts of the country, which may shrink supply in some areas.”

While Idaho’s state average has increased by 23 cents to begin the year, prices in the Treasure Valley have been even more turbulent, with drivers in the Boise area paying an average of 34 cents more per gallon than they did at the end of 2020.

If there’s a silver lining, drivers in Idaho are faring better than their counterparts across the country.  The state’s current average is $2.45 a gallon for regular, which is 20 cents more than a month ago, but still eight cents cheaper than a year ago.  On the other hand, the U.S. average currently sits at $2.52.  That’s 14 cents more than a month ago and eight cents more than a year ago.  Today, the Gem State is 27th in the country for most expensive gas prices.

“If we see higher crude oil prices over a sustained period of time coupled with a spike in gasoline demand as the warm weather returns, that could pack a serious punch for the family budget in the weeks ahead,” Conde said.

Here’s a selection of Idaho gas prices as of 2/16/21:

  • Boise – $2.55
  • Coeur d’Alene – $2.35
  • Franklin – $2.33
  • Idaho Falls – $2.34
  • Lewiston – $2.44
  • Pocatello – $2.35
  • Twin Falls – $2.36

 

Updated 2/8/21

Idaho Gas Prices Jump Four Cents as Crude Oil Hits Highest Price in a Year

BOISE – Idaho drivers won’t be feeling the love when they stop to fill up this Valentine’s Day.  According to AAA, gas prices in the Gem State jumped another four cents this week, following the national trend of higher pump prices due to the rising cost of crude oil.  At $56 per barrel, crude is at its highest price in the last year.

Oil prices are climbing based on the market’s growing confidence that demand will increase with the successful deployment of the COVID-19 vaccine, and because of recent announcements by the Organization of the Petroleum Exporting Countries (OPEC) that current production cuts will remain in effect for the foreseeable future.

“Over the next few weeks, we would anticipate gas prices continuing on an upward trajectory, perhaps by as much as ten cents a gallon, as higher replacement costs make their way down to consumers,” says AAA Idaho spokesman Matthew Conde.  “But for those with a glass-half-full mentality, Idaho drivers are still in the enviable position of paying less than the national average and less than they paid a year ago.”

Today, the average price for regular fuel in Idaho is $2.39, which is 17 cents more than a month ago but 15 cents less than a year ago.  The national average currently sits at $2.47.  That’s also 17 cents more expensive than a month ago, and three cents more than a year ago.

February 6 was the first time in 340 days that the U.S. average was more expensive year-over-year.  While two-thirds of the states have followed suit, Idaho isn’t one of them – for now.

Prices jumped by 10 cents in the Coeur d’Alene area this week, and by four to six cents in other parts of the state.  To stretch your fuel budget, AAA recommends grouping errands and avoiding peak traffic congestion whenever possible.

Here’s a selection of Idaho gas prices as of 2/8/21:

  • Boise – $2.48
  • Coeur d’Alene – $2.12
  • Franklin – $2.34
  • Idaho Falls – $2.33
  • Lewiston – $2.38
  • Pocatello – $2.33
  • Twin Falls – $2.33

 

Updated 2/1/21

Treasure Valley Gas Prices Top the National Average

BOISE – In what could be an ominous sign of things to come, gas prices in the Treasure Valley jumped by eight cents this week.  Boise-area prices are 23 cents higher than a month ago, and at $2.44 per gallon now exceed the national average.

Gas prices are climbing throughout the state and across the country, with higher crude oil prices outpacing low seasonal demand and COVID-19 restrictions to make it more expensive to fill up.

“The national average price for fuel has been cheaper year-over-year for 336 days in a row.  If current trends continue, that streak could come to an end as early as this week,” says AAA Idaho spokesman Matthew Conde.  “Drivers in ten states are already paying more than they did a year ago, but for now, motorists in the Gem State continue to enjoy some nice savings at the pump.”

Conde noted that Idaho gas prices are frequently 20 to 30 cents more expensive than the national average, but that low demand pushed prices below the national average at the end of 2020, where they have remained ever since. Rising crude prices are now closing the gap.

Today, Idaho’s average price for regular is $2.35 per gallon, which is 13 cents more than a month ago but 22 cents less than a year ago.  On the week, Boise prices jumped by eight cents, followed by Idaho Falls (+7 cents) and Twin Falls (+4 cents).  Coeur d’Alene prices jumped by two cents but are still much cheaper than other parts of the state, while Lewiston prices actually dropped by a nickel.

Meanwhile, the U.S. average currently sits at $2.42 per gallon, which is 17 cents more than a month ago and just five cents cheaper than a year ago.

“Typically, a decrease in demand and an increase in gasoline stocks result in a lower pump price, but crude oil is now selling for $53 per barrel, which is more expensive than a year ago,” Conde said.  “Those higher replacement costs are beginning to make their way down the supply chain.”

Here’s a selection of Idaho gas prices as of 2/1/21:

  • Boise – $2.44
  • Coeur d’Alene – $2.12
  • Franklin – $2.22
  • Idaho Falls – $2.27
  • Lewiston – $2.32
  • Pocatello – $2.30
  • Twin Falls – $2.30

 

Updated 1/25/21

Idaho Gas Prices Jump Four Cents, 4th-Largest Increase in the U.S.

BOISE –  This week, Idaho drivers are paying more to fill up.  The state average jumped four cents on the week as rising crude oil prices made fuel more expensive in all but five states.  Idaho’s increase was the 4th-largest in the country, following Florida (+9 cents), Utah (+9 cents), and Nebraska (+5 cents).  Most of Idaho’s finished gasoline products are refined in Utah.

But there’s good news – pump prices in the Gem State are still ten cents cheaper than the national average, and drivers here are paying 30 cents less per gallon than a year ago.

“Lately, the demand for fuel has ebbed and flowed with the rise and fall of COVID-19 infection rates and the deployment of vaccines.  But surprisingly, this week’s substantial increase in demand had little impact on gas prices – the recent price bump is more related to what’s happening in the crude oil market,” says AAA Idaho public affairs director Matthew Conde.  “However, if demand remains elevated, that could put additional upward pressure on gas prices in the coming weeks.”

According to the Energy Information Administration, gasoline demand jumped from 7.5 million barrels per day to 8.1 million on the week, which would normally send pump prices higher.  But gasoline supplies only dipped slightly, which helped to offset the increased demand.

Today, the Idaho average for regular is $2.30, which is eight cents more than a month ago, but 30 cents less than a year ago.  The national average currently sits at $2.40, which is 15 cents more than a month ago, but 13 cents less than a year ago.

West Texas Intermediate crude oil is currently trading at $52 per barrel, just two dollars cheaper than a year ago.  If that margin continues to narrow, gas prices will climb.  Crude oil accounts for 50 percent of the price of finished gasoline.

AAA encourages drivers to bundle trips and make sure tires are properly inflated to conserve fuel.

Here’s a selection of Idaho gas prices as of 1/25/21:

  • Boise – $2.36
  • Coeur d’Alene – $2.10
  • Franklin – $2.20
  • Idaho Falls – $2.20
  • Lewiston – $2.37
  • Pocatello – $2.28
  • Twin Falls – $2.26

 

Updated 1/19/21

Idaho Gas Prices Trail U.S. Average, but Both are Climbing

BOISE – Despite low fuel demand, gas prices are ticking up due to the rising price of crude oil.  This week, drivers in every state, including Idaho, paid more to fill up, with 14 states jumping by seven cents or more.

Recent gas price activity marks the first substantial increase in the month of January since 2009.  Then, as now, oil prices were increasing significantly.  No state is selling fuel below $2 per gallon.

“There was a slight dip in crude oil prices to end the week, partly based on market concern that the rising number of COVID-19 cases could lead to further restrictions and even less fuel demand.  But the overall trend is that of rising crude oil prices, and that’s been enough to keep pump prices climbing even with demand being down,” says AAA Idaho spokesman Matthew Conde.  “We expect crude oil and petroleum prices to continue to be very reactionary to the number of new infections, and the successful deployment of the vaccine, in the weeks ahead.”

Today, Idaho drivers are paying an average of $2.27 for regular, which is three cents more than a month ago but 34 cents cheaper than a year ago.  The Gem State ranks 5th in the country for the largest year-over-year savings.  The national average currently sits at $2.39, which is 17 cents more than a month ago, but 16 cents less than a year ago.

“Prices are going up everywhere, and Idaho is no exception,” Conde said.  “But we remain well below the national average, and that’s a rare position for our state to be in, so we’ll take it.”

West Texas Intermediate crude oil is currently trading at $53 per barrel.  That’s four dollars more expensive than a month ago, but five dollars cheaper than a year ago.

On a positive note, relatively low fuel demand of 7.5 million barrels per day resulted in a 4.4 million-barrel addition to gasoline stocks this week, raising inventories to 245 million barrels.  That could help offset a slight increase in demand, were one to occur this week.

Here’s a selection of Idaho gas prices as of 1/19/21:

  • Boise – $2.31
  • Coeur d’Alene – $2.10
  • Franklin – $2.19
  • Idaho Falls – $2.17
  • Lewiston – $2.25
  • Pocatello – $2.25
  • Twin Falls – $2.25

 

Updated 1/11/21

Crude Oil Prices Surge, U.S. and Idaho Gas Prices Follow

BOISE – Despite fuel demand dropping across the country, rising crude oil prices and a shrinking gas supply sent prices higher this week.  According to AAA, the U.S. average increased by six cents to reach its most expensive price since March.  Drivers in every state paid more to fill up this week.

But for Idahoans, there’s still some good news – While Gem State prices were up a penny from a week ago, they’re ten cents cheaper than the national average.  And after many months in the typical 7th to 9th-place range for most-expensive fuel, Idaho currently ranks 30th in the country.

Today, the West Texas Intermediate price for a barrel of crude oil is $52 per barrel, which is five dollars more than a month ago and seven dollars cheaper than a year ago.  Crude prices increased after Saudi Arabia announced production cuts of 1 million barrels per day in February and March.

In addition to higher crude prices, domestic supplies are also tightening, with U.S. crude inventories decreasing by eight million barrels this week and finished gasoline stocks dipping by ten million barrels.  That was enough to offset a week of falling fuel demand, which at 7.4 million barrels per day was the lowest level since May 2020.

“This time of year, we would normally anticipate a drop in demand, but some of the activity on the supply side is a little unexpected,” says AAA Idaho spokesman Matthew Conde.  “If crude oil inventories continue to shrink throughout the week, crude prices could increase and push pump prices even higher.”  Crude oil makes up about half the price of finished gasoline.

Today, the U.S. average for a gallon of regular is $2.32 per gallon, which is 16 cents more than a month ago but 27 cents cheaper than a year ago.  Meanwhile, Idaho drivers are currently paying $2.22 per gallon, which is four cents less than a month ago and 42 cents less than a year ago.  At $3.29 per gallon, California fuel is the most expensive in the country.  Mississippi is selling the cheapest gas in the country at $1.99 per gallon – the only state to remain under the $2 mark.

Here’s a selection of Idaho gas prices as of 1/11/21:

  • Boise – $2.21
  • Coeur d’Alene – $2.07
  • Franklin – $2.18
  • Idaho Falls – $2.14
  • Lewiston – $2.37
  • Pocatello – $2.21
  • Twin Falls – $2.25

 

Updated 1/5/21

Idaho Posts 5th Largest Year-over-year Gas Price Drop in 2020

BOISE – Idaho drivers are happy to leave 2020 in the rearview mirror, but lower gas prices have been a welcome sight.  According to AAA, the Gem State saw the 5th largest year-over-year price drop at 46 cents per gallon of regular gas.  Regional neighbors Arizona, Utah, Wyoming, Colorado and Oregon also made the top ten list, with Arizona posting the biggest savings at 60 cents per gallon.

“After several years of increasing fuel demand, COVID-19 restrictions kept more people working, studying and playing closer to home last year,” says AAA Idaho spokesman Matthew Conde.  “Now that year-end holiday travel is over, we could see demand dip even further, and if oil prices hold steady, that combination could lead to cheaper fill-ups in the coming weeks.”

Like their counterparts across the country, Idahoans saw gas prices plummet as stay-home orders were imposed and popular travel destinations closed in the spring.  Then restrictions eased in the summer, and gas prices rallied.  But Gem State drivers are paying much less than a year ago, and in the final days of 2020, Idaho’s price fell below the national average, where it remains today.

Idaho’s current price for regular is $2.21, which is seven cents less than a month ago, and 45 cents less than a year ago.  The U.S. average is $2.26 – ten cents more than a month ago, but 33 cents less than a year ago.  The national average held at $2.25 for 12 days before bumping up by a penny.

Idaho currently has the 26th most expensive gas in the country after several months in the 7th to 9th place-range.  Drivers here paid the most to fill up on January 1 last year, at $2.68 per gallon.  Prices at the pump reached their lowest point on May 4, when drivers paid $1.80 per gallon.

AAA says that year-end holiday travel was down by at least 25 percent, and according to the Energy Information Administration, U.S. gasoline demand for the last week of December dropped to 8.1 million barrels per day – the lowest demand for that calendar week in 23 years.

Crude oil prices were also extremely volatile in 2020.  After beginning the year at over $60 per barrel, the West Texas Intermediate (WTI) benchmark tumbled as the global economy ground to a halt.  Crude prices even fell into the negative for a day in late April before spending a few weeks in the teens.  Prices steadily increased in subsequent months before plateauing near $48 per barrel to end the year.

Today, WTI crude oil is trading near $50 per barrel, in part due to news that OPEC (Organization of the Petroleum Exporting Countries) will not increase production in February.

“The market is feeling a little more hopeful these days, but in the short term, oil and gas prices are going to be very closely related to the successful rollout of COVID vaccines,” Conde said.  “We’re still in the early going, but once the vaccine is widely distributed and consumer confidence starts to recover, the floodgates will open.  Fuel demand could spike in the spring and summer if people are able to resume their normal travel activity or even a typical work commute.”

Here’s a selection of Idaho gas prices as of 1/5/21:

  • Boise – $2.18
  • Coeur d’Alene – $2.07
  • Franklin – $2.19
  • Idaho Falls – $2.15
  • Lewiston – $2.33
  • Pocatello – $2.22
  • Twin Falls – $2.27

For archives of gas price news, visit https://info.oregon.aaa.com/category/fuel-price-news/