2022 Idaho Gas Price News

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Updated 12/20/22

Idaho Gas Prices Fuel Holiday Getaways

BOISE – Falling gas prices will help Idaho families fuel up the family sleigh for a holiday adventure this year.  According to AAA, nearly 113 million Americans, including 646,000 Idahoans, will take a trip to see family and friends between December 23 and January 2.

“Thankfully, gas prices have been steadily falling for the past few months, which should make a holiday road trip more manageable and maybe even put another present under the tree,” says AAA Idaho spokesman Matthew Conde.  “January has historically been the low point before fuel prices start rising again, so we’re hoping for a lower number in the coming weeks.”

Today, Idaho’s average price for a gallon of regular is $3.62 per gallon, which is 15 cents less than a week ago and 58 cents less than a month ago.  Meanwhile, the national average currently sits at $3.12 per gallon, which is 13 cents less than a week ago and 55 cents less than a month ago.

The Gem State currently ranks 8^th in the country for most expensive fuel behind Hawaii ($5.11), California ($4.36), Nevada ($4.03), Washington ($3.92), Oregon ($3.82), Alaska ($3.74), and Pennsylvania ($3.66).

Here’s a look at Christmas Day pump prices for the past seven years:

“With a 2% bump in auto travel, a 14% jump in air travel and a 23% increase in other modes of travel expected this holiday season, please plan on things being busier than last year, regardless of whether you’re on the road or at the airport,” Conde said.  “We always remind travelers that one of the most important things they can pack is their patience.”

AAA recommends avoiding peak traffic congestion between 2:00 and 8:00 PM each day.  Try to get an early jump on travel plans to reduce your stress along the way.

“Make sure you get plenty of rest before you hit the road, and always check road and weather conditions along your route and adjust your plans if necessary,” Conde said.  “Share your travel plans with loved ones who can act on your behalf if you fail to arrive.”

AAA also recommends bringing water and snacks for people and pets, extra warm clothing, a first aid kit, flares or reflectors, and traction control devices like tire chains.  If you’re waiting for help to arrive due to a vehicle disablement and you need to start the engine to warm up, make sure that the tailpipe is completely clear of snow and other debris.  Never blindly follow your GPS – if a road isn’t properly maintained, turn around.

Crude oil dynamics

Today, the West Texas Intermediate benchmark for crude oil is trading near $76 per barrel, which is $3 less than a month ago and $8 more than a year ago.  While winter weather has curbed demand at the pump, it will likely rise in anticipation of the busy holiday travel season.

“Crude oil is the main ingredient in finished gasoline, and as the cost of crude goes, so goes the price of fuel,” Conde said.  “The good news is that right now, cold weather is our friend on the supply side of the equation.”

Here’s a look at Idaho gas prices as of 12/20/22:

• Boise – $3.74
• Coeur d’Alene – $3.05
• Franklin – $3.59
• Idaho Falls – $3.66
• Lewiston – $3.63
• Pocatello – $3.72
• Rexburg – $3.61
• Twin Falls – $3.62

 

Updated 12/5/22

Idaho Gas Prices Under $4 Mark, and Still Falling

BOISE – Amid the twinkling lights and holiday cheer, Idaho drivers are finding another reason to feel festive at the gas pump.  According to AAA, Idaho’s average price for regular is now $3.94 per gallon, which is 17 cents less than a week ago and 36 cents less than a month ago.  However, current prices are still 28 cents more than a year ago.

Meanwhile, the national average currently sits at $3.40 per gallon, which is 14 cents less than a week ago and 40 cents less than a month ago, but just a nickel more than a year ago.  Idaho currently ranks 7^th in the U.S. for most expensive fuel behind Hawaii ($5.18), California ($4.77), Nevada ($4.48), Washington ($4.32), Oregon ($4.21), and Alaska ($4.13).

Falling fuel demand has helped tamp down gas prices, despite the continued high cost of crude oil.

“It’s encouraging that Utah, where most of Idaho’s gasoline supply is refined, is seeing an average price of $3.79 per gallon today,” says AAA Idaho public affairs director Matthew Conde.  “Hopefully, the trend will continue, and Gem State prices will be even better in the run-up to the holidays.”

Today, the West Texas Intermediate benchmark for crude oil is trading near $79 per barrel, and the cost of crude has hovered near the $80 mark for the past couple of weeks.  The current price is $13 per barrel cheaper than a month ago and $10 more than a year ago.

“If the threat of crude oil scarcity rattles the market, drivers could suffer the consequences,” Conde said.  “OPEC recently announced that it will follow through on an agreement to cut crude production by two million barrels per day, and Russia has also threatened to withhold oil from any nation that attempts to cap its prices.  While supply issues or a surge in holiday fuel demand could send pump prices higher, we’re keeping our fingers crossed that more savings are on the way.”

 Here’s a look at Idaho gas prices as of 12/5/22:

• Boise – $3.99
• Coeur d’Alene – $3.59
• Franklin – $3.86
• Idaho Falls – $3.92
• Lewiston – $4.30
• Pocatello – $3.99
• Rexburg – $3.99
• Twin Falls – $3.99

 

Updated 11/23/22

Thanksgiving Travel Surges Despite High Gas Prices

BOISE – Idahoans will travel in droves to see family and friends this Thanksgiving, even if it comes with a higher price tag.  According to AAA, nearly 54.6 million Americans, including 312,000 Idahoans, will set out on a Turkey Day trip this year, despite gas prices that are nearly 50 cents higher per gallon than a year ago.

Today, the average price for a gallon of regular in the Gem State is $4.17 per gallon, which is seven cents less than a week ago and 20 cents less than a month ago.  Meanwhile, the national average currently sits at $3.61, which is 13 cents less than a week ago and 19 cents less than a month ago.

Here’s a seven-year retrospective on Thanksgiving gas prices:

AAA says that the ongoing boycott of Russian crude and a recent agreement by the Organization of the Petroleum Exporting Countries (OPEC) and their partners to cut production by two million barrels per day have placed additional pressure on global crude prices due to a threat of potential scarcity.  More than 50% of the price of finished gasoline is determined by the price of crude oil.

Today, the West Texas Intermediate benchmark for crude is trading near $77 per barrel, which is about $7 less than a month ago and $1 less than a year ago.

“Falling gas prices are something to be thankful for, but this Thanksgiving’s pump prices are still among the highest on record,” says AAA Idaho public affairs director Matthew Conde.  “Even so, people see family gatherings, particularly around the holidays, as a major factor in their quality of life.  Most people are digging deep and finding a way to budget for the opportunity to connect or re-connect with their loved ones.”

On the road

• Check weather, road and traffic conditions before you go.
• Avoid wearing bulky coats that can restrict movement while driving. Dress in layers.
• Wash your car to keep windshields, mirrors and lights free from dirt and grime.
• Never blindly follow your GPS. If a road isn’t properly maintained, turn around.
• Actively scan the road for debris, potholes, and wildlife.
• Watch for slick spots on curves, hills, bridges, and shaded areas. Remember that weather patterns and temperatures can change throughout the day and at different elevations.
• Share your travel plans, including the route you’ll take, with loved ones who can act on your behalf if you fail to arrive.

At the airport

• Arrive at least two hours before your flight departs.
• Use the airline mobile app to stay informed of possible changes to your itinerary.
• Avoid checking bags if possible – but if not, pack at least one change of clothes, medications, and other valuables in your carry-on bag.

At the hotel

• Verify the availability of on-site dining and other services, as staffing shortages have led to reduced hours of operation in some areas.
• For additional peace of mind, explore contactless options, like online check-in or check-out, room service, and digital room keys.

“On any road trip, it’s important to bring an emergency kit, complete with food, water, blankets and other warm clothing, a flashlight with fresh batteries, flares or reflectors, a first aid kit, jumper cables, and basic tools,” Conde said.  “A collapsible shovel could be useful if you need to dig out of the snow, and plan ahead for icy roads and a potential loss of traction – in an emergency, tire chains or socks, sand, kitty litter, or even a floor mat can be used to help you get back on the go.”

Here’s a look at Idaho gas prices as of 11/23/22:

• Boise – $4.21
• Coeur d’Alene – $3.93
• Franklin – $3.99
• Idaho Falls – $3.99
• Lewiston – $4.32
• Pocatello – $4.11
• Rexburg – $4.13
• Twin Falls – $4.17

 

Updated 11/7/22

Crude Oil Fears Put Pressure on Pump Prices

BOISE – Global concerns about a tight crude oil supply are putting pressure on gas prices across the country this week, but Idaho prices are still falling – for now.

According to AAA, the U.S. average price for regular gasoline is $3.80 per gallon, which is a four-cent jump from a week ago, but nine cents less than a month ago.  Meanwhile, Idaho’s average price is $4.30 per gallon, which is four cents less than a week ago and 12 cents less than a month ago.

Today, the Gem State ranks 8^th in the country for most expensive fuel behind California ($5.46), Hawaii ($5.20), Nevada ($4.96), Oregon ($4.84), Washington ($4.82), Alaska ($4.75), and Illinois ($4.31).

“With the boycott of Russian crude oil in many parts of the world, and another round of production cuts by the Organization of the Petroleum Exporting Countries and their partners, there is real concern about the scarcity of crude oil supplies this fall.  That’s making crude more expensive and driving up the price of finished gasoline in the process,” says AAA Idaho public affairs director Matthew Conde.  “But the effect could be short-lived if fears of a global recession and reports of new COVID-19 restrictions in China tamp down demand.  We’re in ‘wait and see’ mode.”

Today, the West Texas Intermediate benchmark for crude oil is trading near $92 per barrel, which is $6 more than a week ago and a month ago.  According to the Energy Information Administration, domestic crude stocks decreased by 3.1 million barrels this week.

“While gasoline demand dipped this week, the high cost of crude was enough to send pump prices higher in some parts of the country,” Conde said.  “If the national average keeps climbing, it’s only a matter of time before Idaho drivers face the same grim reality.”

 Here’s a look at Idaho gas prices as of 11/7/22:

• Boise – $4.32
• Coeur d’Alene – $4.25
• Franklin – $4.11
• Idaho Falls – $4.10
• Lewiston – $4.40
• Pocatello – $4.19
• Rexburg – $4.27
• Twin Falls – $4.23

 

Updated 10/31/22

Halloween Drivers Haunted by High Gas Prices

BOISE – Drivers might have an eerie feeling when they stop to fill up their cars for trick-or-treating tonight.  According to AAA, Idaho’s average price for regular gasoline dipped just two cents this week, while the U.S. average is down three cents.

Today, the average price for regular in the Gem State is $4.33 per gallon, which is nine cents less than a month ago but 62 cents more than a year ago.  Meanwhile, the national average currently sits at $3.76, which is four cents less than a month ago but 36 cents more than a year ago.  Idaho ranks 7^th in the country for most expensive fuel behind California ($5.57), Hawaii ($5.22), Nevada ($5.00), Oregon ($4.97), Washington ($4.92), and Alaska ($4.85).

The high cost of crude oil continues to prevent big savings at the pump, even as fuel demand is about 400,000 barrels less per day than a year ago.  If crude oil costs are high in the run-up to Thanksgiving, holiday travel demand could reverse the recent trend and push pump prices higher.

“Gas prices are dropping, but it’s really slow going, and most families aren’t experiencing any serious relief,” says AAA Idaho public affairs director Matthew Conde.  “Oil prices could continue to fluctuate, creating a teeter-totter effect on gasoline demand in the coming weeks.”

While the Idaho state average didn’t move much this week, drivers in the Magic Valley and some parts of Eastern Idaho are saving a nickel or more per gallon from a week ago.

The West Texas Intermediate benchmark for crude oil is currently trading near $85 per barrel, which is about six dollars more than a month ago and $1 more than a year ago.

“Market uncertainty is the ongoing theme in crude prices, which make up about 50% of the price of finished gasoline,” Conde said.  “But if conditions improve, prices could start to behave more like they do in a typical fall season.”

 Here’s a look at Idaho gas prices as of 10/24/22:

• Boise – $4.35
• Coeur d’Alene – $4.29
• Franklin – $4.13
• Idaho Falls – $4.16
• Lewiston – $4.45
• Pocatello – $4.23
• Rexburg – $4.31
• Twin Falls – $4.24

 

Updated 10/24/22

Idaho, U.S. Pump Prices Slip Amid Low Demand, Recession Fears

BOISE – Gas prices are falling in the Gem State, but Idaho drivers are still getting more tricks than treats in the run-up to Halloween.  According to AAA, the state average for regular gasoline is $4.36 per gallon, which is about a nickel less than a week ago and a month ago, but 65 cents more than a year ago.

Meanwhile, the national average currently sits at $3.79, which is nine cents less than a week ago, but nine cents more than a month ago and 40 cents more than a year ago.  Today, Idaho ranks 8^th in the country for most expensive fuel behind California ($5.75), Hawaii ($5.21), Alaska ($5.09), Oregon ($5.09), Nevada ($5.06), Washington ($5.02), and Arizona ($4.37).

“Gas prices are slowly heading in the right direction, but not necessarily for the right reasons,” says AAA Idaho spokesman Matthew Conde.  “In a typical year, the seasonal cold weather curbs demand and the switch to cheaper-to-make winter-blend fuel results in a nice price drop.  But this fall, the trend is tied to fears of a global recession and the unbearably high price of fill-ups.  Uncertainty is playing havoc with the market.”

According to recent data from the Energy Information Administration, gasoline demand is down nearly 1 million barrels from a year ago.  But crude oil prices remain high amid tight global supplies, with the West Texas Intermediate benchmark for crude currently trading near $85 per barrel.

If fuel demand remains low and recession fears continue, crude oil and gas prices could fall this week.  But as recently announced production cuts by the Organization of the Petroleum Exporting Countries (OPEC) begin to take effect, any shockwave in global supply could send prices higher.

“It has become a real challenge for some Idaho families to deal with the continued high pump prices,” Conde said.  “Take anything heavy that you don’t need out of your car or off your roof rack, group your trips whenever possible, and try to avoid traffic congestion if you can.  That could help you save some money to put toward your Thanksgiving travel plans.”

 Here’s a look at Idaho gas prices as of 10/24/22:

• Boise – $4.38
• Coeur d’Alene – $4.35
• Franklin – $4.18
• Idaho Falls – $4.21
• Lewiston – $4.45
• Pocatello – $4.25
• Rexburg – $4.34
• Twin Falls – $4.30

 

Updated 10/10/22

Idaho’s Average Gas Price Holds Steady Despite National Surge

BOISE – Drivers in the Gem State are paying much more for a gallon of gas than in other parts of the country, but so far, the heavy impact of a recent surge in pump prices has been felt primarily in northern Idaho.

Today, Idaho’s average price for regular is $4.42 per gallon, which is the same as a week ago and six cents less than a month ago.  Meanwhile, the national average currently sits at $3.92, which is 12 cents more than a week ago and 20 cents more than a month ago.

The Gem State currently ranks 8^th in the U.S. for most expensive fuel behind California ($6.33), Alaska ($5.54), Oregon ($5.53), Nevada ($5.44), Washington ($5.40), Hawaii ($5.21), and Arizona ($4.56).

When several California refineries shut down for routine maintenance and fuel supplies were depleted along the West Coast, gas prices shot up, including in the Idaho Panhandle where drivers have shared the pain with neighboring Washington.  But with more refineries coming back online, gas prices are now under pressure from other sources.

“The Organization of the Petroleum Exporting Countries and their partners, known as OPEC+, recently agreed to cut crude oil production by another two million barrels per day, and fuel demand also increased substantially last week.  Both could spell trouble for the price of future fill-ups,” says AAA Idaho public affairs director Matthew Conde.  “Hopefully, chilly weather will motivate people to stay closer to home, with falling demand acting as a relief valve to keep pump prices in check.”

According to the Energy Information Administration, gasoline demand jumped to 9.5 million barrels per day, up from 8.8 million a week ago.  In response to OPEC’s announcement, The West Texas Intermediate benchmark for crude oil is currently trading near $92 per barrel, up $12 from the beginning of the month.

If the market sees indicators of weakening oil demand in the coming weeks, either due to continued COVID-19 lockdowns in China or fears of an economic recession, crude prices could ease, bringing fuel prices back down.  But AAA warns that prices could be wobbly in the run-up to the holidays.

“If the states were all lined up like rail cars, Idaho and its Rocky Mountain neighbors would be back by the caboose and are generally among the last to react to major gas price movements on the national level,” Conde said.  “But if the U.S. average continues to climb, it’s only a matter of time before prices here follow suit.”

Here’s a look at Idaho gas prices as of 10/10/22:

• Boise – $4.39
• Coeur d’Alene – $4.63
• Franklin – $4.06
• Idaho Falls – $4.27
• Lewiston – $4.63
• Pocatello – $4.31
• Rexburg – $4.35
• Twin Falls – $4.33

 

Updated 10/3/22

Idaho, U.S. Gas Prices Back on the Rise

BOISE – Well, that didn’t last long.  According to AAA, the average price of gasoline both here in the Gem State and across the country is climbing.  Tight supplies and growing fuel demand are the main reasons for the recent uptick.

Today, Idaho’s average price for regular is $4.42 per gallon, which is a penny more than a week ago, but 11 cents less than a month ago.  Meanwhile, the national average currently sits at $3.80 per gallon, which is seven cents more than a week ago and about the same price as a month ago.

The Gem State currently ranks 8^th in the U.S. for most expensive fuel behind California ($6.37), Nevada ($5.49), Oregon ($5.42), Alaska ($5.32), Washington ($5.29), Hawaii ($5.21), and Arizona ($4.49).

“At least six California refineries are in the middle of seasonal maintenance, and that, coupled with steady demand, has sent shockwaves across the West Coast, with prices jumping by 59 cents a gallon in California this past week, 43 cents in Oregon, and 38 cents in Washington,” says AAA Idaho public affairs director Matthew Conde.  “Fortunately, prices are still dropping across the southern part of Idaho, but in the Panhandle, drivers are being hard-hit by the skyrocketing prices that Washington is facing.”

AAA says that for months, drivers in places like Coeur d’Alene and Lewiston were paying much less than in other parts of the state, but prices there have increased by 15 to 25 cents this week.

To offset surging prices, California has approved the early sale of winter-blend fuel, which is cheaper to produce.  This may have an indirect effect on lowering prices in Oregon and Washington, and in turn, northern Idaho. But it is rumored that the Organization of the Petroleum Exporting Countries (OPEC) may announce more crude oil production cuts later this week.  If that happens, the price of crude oil, which makes up about half the cost of finished gasoline, is likely to increase, putting more upward pressure on fuel prices in the process.

The West Texas Intermediate benchmark for crude oil is currently trading near $83 per barrel, which is about $3 less than a month ago and $5 more than a year ago.

“With so much uncertainty in the market, now is a good time for holiday travelers to start saving to deal with the possibility of expensive fill-ups and pricey plane tickets at the end of the year,” Conde said.  “Group your trips wherever possible and avoid driving in peak traffic congestion.  While cold weather typically brings a dip in gas prices this time of year, the run-up to the holiday season may be more turbulent than we would like.”

Here’s a look at Idaho gas prices as of 10/3/22:

• Boise – $4.42
• Coeur d’Alene – $4.52
• Franklin – $4.22
• Idaho Falls – $4.29
• Lewiston – $4.49
• Pocatello – $4.37
• Rexburg – $4.37
• Twin Falls – $4.33

 

Updated 9/19/22

Idaho Gas Prices Drop By Six Cents as Summer Winds Down

BOISE – Fall is in the air and at the gas pump.  According to AAA, Idaho’s average price for regular dropped by another six cents this week as the summer draws to a close.

“With the return of school and other responsibilities, Idaho families have completed many of their big trips and are now staying closer to home,” says AAA Idaho public affairs director Matthew Conde.  “Lower fuel demand translates to lower pump prices, and we’ve also captured some savings in the recent switch to winter-blend fuel, which is cheaper to produce than summer-blend.”

Today, the average price for regular in the Gem State is $4.41 per gallon, which is six cents less than a week ago and 26 cents less than a month ago, but 64 cents more expensive than a year ago.  The national average currently sits at $3.68 per gallon, which is four cents less than a week ago and 24 cents less than a month ago, but 49 cents more than a year ago.

Idaho currently ranks 7^th in the country for most expensive gas, following California ($5.45), Hawaii ($5.27), Nevada ($4.92), Oregon ($4.65), Alaska ($4.64), and Washington ($4.63).  At $3.10 per gallon, today’s cheapest average price can be found in Mississippi.

“Thankfully, it’s been a pretty quiet hurricane season so far.  No major storms have made landfall in sensitive parts of the country to potentially disrupt the gasoline supply chain,” Conde said.  “But the weekly decline in the U.S. average was the smallest in months, which could be a signal that the trend of falling prices is starting to level off.  Hopefully, crude oil prices and fuel demand will continue to drop so that we all get more needed relief at the pump.”

The West Texas Intermediate benchmark for crude oil is currently trading near $85 per barrel, which is about $2 less than a week ago and $6 less than a month ago, but $15 more than a year ago.

Here’s a look at Idaho gas prices as of 9/19/22:

• Boise – $4.51
• Coeur d’Alene – $4.16
• Franklin – $4.34
• Idaho Falls – $4.35
• Lewiston – $4.13
• Pocatello – $4.43
• Rexburg – $4.46
• Twin Falls – $4.44

 

Updated 8/15/22

Idaho Gas Prices Fall Nine Cents as Summer Travelers Feel the Squeeze

BOISE – High gas prices continue to put a damper on driver behavior, both here in the Gem State and across the country.  According to AAA, Idaho gas prices fell nine cents this week as drivers continue to struggle with expensive fill-ups.

“Fuel demand increased last week from 8.5 to 9 million barrels per day, but that’s still more than 300,000 barrels per day less than a year ago,” says AAA Idaho spokesman Matthew Conde.  “There’s a bit of a standoff right now.  Falling prices are starting to pull some folks off the sidelines and back onto the roads, but there are still a lot of people waiting for a better deal in hopes of one last summer road trip.”

Today, Idaho’s average price for a gallon of regular is $4.70, which is nine cents less than a week ago and 47 cents less than a month ago.  However, with the exception of the Lewiston area and Boundary County, prices in the Gem State are still much higher than the national average of $3.96 per gallon, which is ten cents less than a week ago and 62 cents less than a month ago.

Idaho currently ranks 7^th in the U.S. for most expensive fuel behind California ($5.37), Hawaii ($5.36), Nevada ($4.94), Alaska ($4.93), Oregon ($4.87) and Washington ($4.81).  At $3.45, today’s least expensive pump prices can be found in Texas.

“On one hand, a shaky economic outlook could continue to drive gas prices down, but there’s always the chance of a hurricane making landfall in the wrong place this time of year, which could slow or even stop the recent downward trend,” Conde said.  “Hopefully, Idaho prices will drop below $4.50 per gallon in the run-up to Labor Day and give more families a chance at one last getaway before the summer travel season winds down.”

Here’s a look at Idaho gas prices as of 8/15/22:

• Boise – $4.81
• Coeur d’Alene – $4.49
• Franklin – $4.73
• Idaho Falls – $4.73
• Lewiston – $4.03
• Pocatello – $4.81
• Rexburg – $4.78
• Twin Falls – $4.77

 

Updated 8/1/22

Idaho Gas Prices Still Falling, But Crude Oil Remains Above $90

BOISE – Idaho drivers are finally beginning to see some relief at the pump now that the state’s average gas price is below the $5 mark and has been steadily falling for the past few weeks.  But with crude oil still above $90 per barrel, a sudden increase in fuel demand or a disruption in the supply chain could quickly reverse the trend.

According to AAA, Idaho’s average price for a gallon of regular is $4.91, which is 11 cents less than a week ago and 34 cents less than a month ago.  Meanwhile, the national average currently sits at $4.21 per gallon, which is 14 cents less than a week ago and 63 cents less than a month ago.

Today, the Gem State ranks 7^th in the country for most expensive fuel behind California ($5.61), Hawaii ($5.44), Alaska ($5.09), Nevada ($5.08), Oregon ($5.07), and Washington ($5.01).  At $3.71 per gallon, the cheapest fuel in the U.S. can be found in Texas.

“We may see a cyclical pattern in the run-up to Labor Day, where falling gas prices prompt an occasional surge in fuel demand, followed by upward pressure on crude oil and gas prices that curbs that demand,” says AAA Idaho public affairs director Matthew Conde.  “The market is pretty skittish right now, but significant price drops may come in the fall, provided that we avoid the misfortune of a hurricane making landfall near a major refinery or some other supply chain issue.”

The West Texas Intermediate benchmark for crude oil is currently trading near $94 per barrel, which is $14 less than a month ago but $20 more than a year ago.

Nearly two-thirds of Americans have changed driving habits to combat high gas prices

In a new AAA survey, 64% of U.S. adults say that they’ve changed their driving habits since March – when gas prices skyrocketed – with 23% making “major changes.”  The top three adjustments are driving less (88%), combining errands (74%), and reducing shopping or dining out (56%).  About 30% say that they’ve delayed major purchases or postponed vacations due to higher pump prices.

“As we’ve seen this summer, there are still plenty of travelers in the air and on the road, but for some people, the pain of expensive fuel is just too much right now,” Conde said.  “Going to ‘one-stop shops’ where you can do banking, grocery shopping, and other activities without a lot of extra driving may help stretch your gas budget a little further.”

AAA reminds drivers that fuel economy peaks at around 50 mph on most cars, then drops off as speeds increase.  If you tend to drive over the speed limit, reducing highway speeds by 5 to 10 mph can improve fuel economy by as much as 14%.  Drivers should also keep their tires properly inflated, and never pay for premium gas unless specifically required by the vehicle manufacturer.

According to the Energy Information Administration’s most recent report, U.S. gasoline demand jumped from 8.5 million barrels per day to 9.25 million b/d last week.  Additionally, domestic gasoline stocks decreased by 3.3 million barrels.  If the trend of higher demand and shrinking supply continues this week, gas prices could level off or even increase.

“Gas is now below $4 per gallon at nearly half of the gas stations around the country,” Conde said.  “That may entice some people who were previously undecided to make one last push to complete summer travel plans.”

Here’s a look at Idaho gas prices as of 8/1/22:

• Boise – $5.00
• Coeur d’Alene – $4.67
• Franklin – $4.87
• Idaho Falls – $4.94
• Lewiston – $4.45
• Pocatello – $4.92
• Rexburg – $4.95
• Twin Falls – $4.94

 

Updated 7/11/22

Idaho Gas Prices Start to Slide, Could Follow National Trend

BOISE – After weeks of watching gas prices fall in other parts of the country, Idaho drivers finally saw a little bit of relief when they filled up this week, and more could be on the way.

According to AAA, the average price for a gallon of regular in the Gem State is $5.21, which is four cents less than a week ago, but still 12 cents more than a month ago.  Meanwhile, the national average fell sharply to $4.68 per gallon, which is 13 cents cheaper than a week ago and 32 cents less than a month ago.

Today, Idaho ranks 7^th in the country for most expensive fuel behind California ($6.09), Hawaii ($5.62), Alaska ($5.48), Nevada ($5.40), Oregon ($5.40), and Washington ($5.36).  The least expensive gas in the country can be found in Kentucky at $4.31 per gallon.

“Crude oil prices are currently hovering near $104 per barrel after reaching a recent high of $122 per barrel in early June.  As the main ingredient in gasoline, lower crude prices help ease the pressure on gas prices,” says AAA Idaho public affairs director Matthew Conde.  “The Rockies region is generally one of the last to react to national gas price trends, good or bad.  We’re just beginning to see some savings at the pump in our area, and hopefully the trend will continue.”

AAA says that gas prices could teeter-totter throughout the summer.  Any significant reduction in the price of fill-ups could motivate people who are on the fence about summer road trips to move forward with their plans, which could put additional upward pressure on pump prices.  On the other hand, as more people complete their summer vacations, fuel demand could fall, and prices with it.

“In a recent AAA survey, about half of the respondents who had already made summer travel plans said that they wouldn’t change them, regardless of gas prices,” Conde said.  “So far, they’re following through on that commitment.”

Here’s a look at Idaho gas prices as of 7/11/22:

• Boise – $5.31
• Coeur d’Alene – $4.92
• Franklin – $5.26
• Idaho Falls – $5.15
• Lewiston – $4.82
• Pocatello – $5.20
• Rexburg – $5.25
• Twin Falls – $5.32

 

Updated 6/28/22

Idaho Gas Prices Still Sky High Heading into 4th of July

BOISE – As temperatures and gas prices spike across the Gem State, 48 million Americans, including 285,000 Idahoans, are preparing for an Independence Day getaway.

Idaho’s average price for a gallon of regular is $5.22, which is three cents more than a week ago and 50 cents more than a month ago.  Meanwhile, the national average has been falling for the past two weeks, and currently sits at $4.88 per gallon, which is nine cents less than a week ago but 22 cents more than a month ago.

“Travel has returned to nearly pre-pandemic levels, and surprisingly, travel by car is projected to be the busiest on record for the holiday weekend, despite much higher pump prices than in recent years,” says AAA Idaho public affairs director Matthew Conde.  “But whether you’re flying or driving, it’s a safe bet that things could get a little hectic at times.”

Here’s a seven-year look at Idaho gas prices on Independence Day:

What to know before you go

Thursday and Friday afternoon are expected to be the busiest times on the road, while Thursday afternoon and Friday morning will likely be the busiest times at the airport.  Due to staffing shortages and cancellations, airlines are running fewer flights, which could be very crowded.

AAA advises travelers to pack masks, hand sanitizer, and disinfecting wipes in their carry-on bag or vehicle, as local jurisdictions may have different health and safety protocols.

Summer travelers are encouraged to consider purchasing travel insurance that specifically protects their vacation and that would cover any additional expenses associated with COVID-19.  They should also notify credit card providers of their travel plans in order to reduce the risk of cards being frozen due to perceived unusual activity.

When selecting a hotel, travelers should confirm the cancellation/change policies to avoid any penalties.  Check with the hotel regarding housekeeping practices, which have changed significantly during the pandemic, along with the hours and availability of pools, workout facilities, and on-site restaurants.  Some breakfasts and buffets have been scaled back to pre-packaged items to reduce the sharing of tongs and other items, though in recent months some hotels have relaxed this policy.

“Ask the hotel about contactless service, including emailed receipts and digital room keys that can be accessed via smart phone,” Conde said.  “Hotels have gone to great lengths to ensure that guests feel safe and comfortable.”

Before setting out on a road trip, drivers should make sure their emergency kit is ready to go, complete with first aid, jumper cables, flares or reflectors, a flashlight with extra batteries, snacks and water, a blanket or towel, and some basic tools.

“We’re in the heart of wildfire season, and there’s plenty of combustible fuel along the roadside,” Conde said.  “Please avoid driving or parking in tall grass that could catch fire.”

AAA is a proud partner of Look Before You Lock, a safety campaign whose mission is to prevent children and pets from being left in hot cars where they could suffer serious injury or even death.  Parents should look for kids and pets before locking or leaving their vehicle – if necessary, leave a purse or wallet in the back seat to reinforce this behavior.  Never let children play in or around an unlocked car.

Crude oil market dynamics

The West Texas Intermediate benchmark for crude oil is currently trading at $111 per barrel, which is the same as a week ago.  Crude supplies remain tight, both domestically and globally.

Here’s a look at gas prices around the Gem State as of 6/28/22:

• Boise – $5.29
• Coeur d’Alene – $4.98
• Franklin – $5.17
• Idaho Falls – $5.15
• Lewiston – $4.98
• Pocatello – $5.20
• Rexburg – $5.20
• Twin Falls – $5.31

 

Updated 6/20/22

U.S. Average Dips Below $5 Mark, But Idaho Gas Prices Keep Climbing

BOISE – After 20-cent and 18-cent jumps in the last two weeks, soaring Idaho gas prices slowed this week, while the national average reversed course – at least temporarily.

AAA says that the current average price for regular in the Gem State is $5.17 per gallon, which is seven cents more than a week ago and 57 cents more than a month ago.  Meanwhile, the U.S. average is $4.98, which is three cents less than a week ago and 39 cents more than a month ago.

“Every week seems to bring another gut punch to Idaho drivers and their counterparts across the country, and even a slight drop in the price of crude oil isn’t doing much to relieve the pain,” says AAA Idaho public affairs director Matthew Conde.  “At this point, we expect gas prices to maintain an overall upward trajectory well into the 4^th of July weekend and beyond.”

Idaho pump prices are back in the top ten most expensive this week, taking 9^th place behind California ($6.40), Nevada ($5.64), Alaska ($5.61), Hawaii ($5.55), Washington ($5.54), Oregon ($5.54), Illinois ($5.51) and Arizona ($5.38).

The West Texas Intermediate benchmark for crude oil is currently trading near $110 per barrel after hitting $122 just over a week ago.  Ongoing market uncertainty and tight global and domestic supplies continue to put upward pressure on both crude and gas prices, and fuel demand is also expected to build with the summer driving season in full swing.

“Everyone’s making tough choices to save money on fuel right now, and for some people, that means driving the practical car instead of the ‘fun’ one,” Conde said.  “Big pickups and sports cars tend to guzzle fuel at a faster rate than other vehicles.  To make this year’s vacations happen, some of the recreational driving that comes with the return of nice weather may have to be put on hold.”

Here’s a look at Idaho gas prices as of 6/20/22:

• Boise – $5.21
• Coeur d’Alene – $5.03
• Franklin – $5.13
• Idaho Falls – $5.11
• Lewiston – $5.06
• Pocatello – $5.10
• Rexburg – $5.17
• Twin Falls – $5.21

 

Updated 6/13/22

Idaho Gas Prices Jump Twenty Cents in a Week

BOISE – Idaho drivers continue to face brutal prices at the pump.  According to AAA, the state average jumped 20 cents in a week to $5.10 for a gallon of regular, which is 60 cents more than a month ago and $1.81 more than a year ago.

Meanwhile, the national average currently sits at $5.01 per gallon, which is 14 cents more than a week ago, 58 cents more than a month ago, and $1.93 more than a year ago.

Today, the Gem State ranks 12^th in the country for most expensive fuel.  The top ten most expensive places for regular gas are California ($6.44), Nevada ($5.66), Alaska ($5.57), Illinois ($5.56), Washington ($5.55), Oregon ($5.54), Hawaii ($5.53), Arizona ($5.32), District of Columbia ($5.26), and Indiana ($5.22).  At $4.48 per gallon, the cheapest pump prices are currently located in Georgia.  Today, 22 states are over the $5 mark.

“Crude oil supplies are tight, summer fuel demand is on the rise, and drivers are stuck in the middle,” says AAA Idaho public affairs director Matthew Conde.  “With no immediate relief in sight, Idaho families continue to be under enormous pressure to find ways to make long-awaited vacations, and in some cases, the daily commute and regular errands, possible.”

The least expensive gas in the Gem State can currently be found in Southeast Idaho.  Drivers in rural parts of the state, where fuel is delivered longer distances by tanker truck, are paying the most.

This week, U.S. gasoline demand increased by 200,000 barrels to 9.2 million per day.  Drivers continue to act on summer travel plans – for now.

The West Texas Intermediate benchmark for crude oil is trading near $122 per barrel, nearly $52 more than a year ago.  The global market continues to react to tight supplies in the aftermath of the Russian invasion of Ukraine and the subsequent ban on Russian oil by the United States and now the European Union.  Prices are expected to climb as China emerges from the latest round of COVID-19 lockdowns.

Domestic crude stocks are also about 12 percent lower than a year ago.

“As temperatures soar, one way to stretch your fuel budget is to use your car’s air conditioner sparingly, and park in shaded areas to reduce your cooling needs when you drive again,” Conde said.  “Keep your tires inflated, and ditch anything heavy that you don’t need in or on your vehicle.”

AAA currently projects that gas prices will increase through the 4^th of July weekend and beyond.

Here’s a look at Idaho gas prices as of 6/13/22:

• Boise – $5.11
• Coeur d’Alene – $5.05
• Franklin – $4.99
• Idaho Falls – $5.02
• Lewiston – $5.07
• Pocatello – $5.01
• Rexburg – $5.07
• Twin Falls – $5.12

 

Updated 6/6/22

Idaho Average Gas Prices Could Hit $5 Mark This Week

BOISE – Drivers continue to feel the pain at the pump amid skyrocketing gas prices, and there’s more trouble on the horizon.  According to AAA, both the Idaho and national average price for regular gasoline are likely to hit the $5 mark as early as this week.  Crude oil market volatility, tight fuel supplies and growing demand continue to push pump prices higher.

Today, Idaho’s average price for regular is $4.90 per gallon, which is 18 cents more than a week ago, 43 cents more than a month ago, and $1.62 more than a year ago.  Meanwhile, the national average currently sits at $4.87, which is 25 cents more than a week ago, 59 cents more than a month ago, and $1.82 more than a year ago.  The Gem State currently ranks 19^th in the country for most expensive fuel.

“For 10 states and the District of Columbia, the $5 mark is already in the rear-view mirror.  Idaho could easily get there by the end of the week,” says AAA Idaho public affairs director Matthew Conde.  “It’s strange that the phrase ‘record-high’ has become so monotonous, but prices are being topped just about every day, and that means that we could be in for a very challenging summer.”

Today, the West Texas Intermediate benchmark for crude oil is trading near $118 per barrel, which is $8 more than a month ago and $48 more than a year ago.  While the Organization of Petroleum Exporting Countries (OPEC) recently agreed to increase monthly production by 648,000 barrels per day in July and August, the European Union’s efforts to implement a 90 percent ban on Russian crude imports by the end of the year is putting upward pressure on prices.

AAA says that gasoline demand is also growing, and recently hit 9 million barrels per day as drivers geared up for Memorial Day travel.  At the same time, gasoline stocks fell by 700,000 barrels, and domestic crude supplies are also nearly 14% lower than a year ago.  If the trend of rising demand and tight supply continues, prices will likely continue to climb in the run-up to Independence Day.

Today, the states with the most expensive gas are California ($6.34), Nevada ($5.49), Hawaii ($5.47), Oregon ($5.42), Washington ($5.41), Illinois ($5.40), Alaska ($5.38), Arizona ($5.13), Michigan ($5.06), and Indiana ($5.00).  The cheapest fuel in the country can be purchased in Georgia at $4.29 per gallon.

“If these prices were hitting in the middle or end of summer, most drivers would probably be getting ready to call it quits,” Conde said.  “But with so many travel plans yet to be completed, some families are going to have a stubborn streak and move forward for the time being, regardless of what gas prices are doing.”

Here’s a look at Idaho gas prices as of 6/6/22:

• Boise – $4.90
• Coeur d’Alene – $4.89
• Franklin – $4.79
• Idaho Falls – $4.79
• Lewiston – $4.94
• Pocatello – $4.81
• Rexburg – $4.92
• Twin Falls – $4.96

 

Updated 5/23/22

Soaring Gas Prices Won’t Put the Brakes on Memorial Day Travel

BOISE – As more than 39 million Americans prepare to travel this Memorial Day weekend, they can expect busy roads and crowded airports.  According to AAA, nearly 224,000 Idahoans will make a holiday getaway, or about 22,000 more than a year ago.

The travel boom comes as gas prices spike across the country, squeezing family budgets with more expensive fuel due to the high cost of crude oil.  Despite the pain, fuel demand is still growing.

“Whether you’re taking a road trip or catching a flight, gasoline, diesel and jet fuel all spring from the same source – crude oil,” says AAA Idaho public affairs director Matthew Conde.  “Expensive fill-ups, cruises, and airline tickets are hitting everyone hard, but we’re just getting to the unofficial start of summer travel, and most people aren’t ready to give up on their vacation plans just yet.”

Idaho’s average price for regular is $4.62 per gallon, which is ten cents more than a week ago and 18 cents more than a month ago.  Meanwhile, the national average sits at $4.60 per gallon, which is 12 cents more than a week ago and a whopping 48 cents more than a month ago.  The Gem State currently ranks 19^th in the country for most expensive fuel.

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

“This year, some people may redefine ‘road trip’ – instead of driving from place to place and covering larger distances, they may select a location that can serve as a base camp and then explore the surrounding area to save on gas,” Conde said.

The busiest time on the road will be Thursday afternoon, when travelers who are getting an early jump will mingle with evening commuters.  Monday will be the busiest return day, but traffic will be more spread out, which may help to reduce congestion.

The West Texas Intermediate benchmark for crude oil is trading near $110 per barrel, which is $2 less than a week ago, $8 more than a month ago, and $44 more than a year ago.

Currently, domestic crude oil stocks are 13% lower than a year ago.  Global market optimism that China’s efforts to end some COVID-19 restrictions by June 1 (possibly creating future oil demand) is further bolstering the price of crude oil, which is not expected to go down anytime soon.

AAA to the rescue

AAA predicts that it will provide emergency road service to nearly 427,000 drivers over the holiday weekend, including 750 here in Idaho.

“A lot of people have put off routine maintenance during the pandemic, but now it’s a good idea to make up for lost time,” Conde said.  “Ask friends and family for recommendations on a repair shop or visit AAA.com/autorepair to find a AAA Approved Auto Repair shop in your area.”

In addition to taking your vehicle in for a pre-trip inspection, AAA recommends bringing an emergency kit that includes jumper cables, a flashlight with extra batteries, a first aid kit, flares or reflectors, and basic tools.

Here’s a look at pump prices around the Gem State as of 5/23/22:

• Boise – $4.65
• Coeur d’Alene – $4.73
• Franklin – $4.59
• Idaho Falls – $4.44
• Lewiston – $4.65
• Pocatello – $4.48
• Rexburg – $4.57
• Twin Falls – $4.62

 

Updated 5/18/22

Idaho, U.S. Average Gas Prices Now Tied at $4.57 per Gallon

BOISE – For drivers everywhere, the pain at the pump continues.  According to AAA, Idaho’s average price for regular gasoline is now tied with the national average at $4.57 per gallon – a new record high for both averages.

AAA says that the high cost of crude oil, which makes up more than half of the price of finished gasoline, continues to be the primary reason for the soaring prices.

Idaho’s average is seven cents more than a week ago and 17 cents more than a month ago.  Meanwhile, the national average is 17 cents more than a week ago and 48 cents more than a month ago.  The Gem State currently ranks 23^rd in the country for most expensive fuel.

“Just a month ago, the U.S. average was 31 cents below Idaho’s average price.  The fact that they’re tied today isn’t an indication that things are improving in the Gem State – rather, it’s a sign of how awful things are getting everywhere,” says AAA Idaho public affairs director Matthew Conde.  “If the current trend continues, some drivers will have to make some really hard choices about how to budget for expensive fuel and still pull off a family road trip this spring and summer.”

California is the first state to top the $6 mark, with six states currently above the $5 mark.  The top ten most expensive places are California ($6.05), Hawaii ($5.34), Nevada ($5.22), Washington ($5.15), Alaska ($5.12), Oregon ($5.11), Illinois ($4.92), District of Columbia ($4.87), New York ($4.87), and Arizona ($4.83).  At $4.03 per gallon, today’s cheapest fuel can be found in Kansas.

“According to AAA research, 75 percent of Americans will consider making changes to their daily driving behavior at the $5 mark, but more than half of those who have already planned a summer vacation also say that they won’t cancel no matter how expensive pump prices get,” Conde said.  “Eventually, high gas prices will likely curb demand, but with the entire summer travel season still ahead, it appears that we haven’t reached that point just yet.”

Today, the West Texas Intermediate benchmark for crude oil is trading near $110 per barrel, which is $2 more than a month ago and $44 more than a year ago.  Continued market volatility due to the Russian invasion of Ukraine, diminished oil supply, and growing fuel demand are all putting upward pressure on crude prices, which result in higher gas prices.

“If you own more than one vehicle, it’s a good idea to drive the car with the best mpg as much as possible,” Conde said.  “Take anything heavy that you don’t need off the roof rack and out of the trunk, and make sure that your tires are properly inflated to stretch your time between fill-ups.”

Here’s a look at Idaho gas prices as of 5/18/22:

• Boise – $4.58
• Coeur d’Alene – $4.67
• Franklin – $4.57
• Idaho Falls – $4.39
• Lewiston – $4.64
• Pocatello – $4.39
• Rexburg – $4.50
• Twin Falls – $4.54

 

Updated 5/9/22

Idaho Sets New Record for Expensive Gas

BOISE – Amid growing fuel demand and a turbulent crude oil market, Idaho drivers could be paying an average price of $4.50 per gallon sometime in the next few days.

According to AAA, the state’s average price for regular is $4.48 per gallon today, which is about four cents more than a week ago and seven cents more than a month ago.  Meanwhile, the national average currently sits at $4.33, which is 14 cents more than a week ago, and 21 cents more than a month ago.  The Gem State currently ranks 13^th in the country for most expensive fuel.

“Ten states and the District of Columbia are already over the $4.50 mark today, and Utah, the supplier for most of our gasoline products, is right on the verge.  It doesn’t bode well for Idaho drivers,” says AAA Idaho public affairs director Matthew Conde.  “With Memorial Day and a busy travel season ahead, fuel demand is likely to push pump prices even higher in the coming weeks.”

AAA reports that the West Texas Intermediate benchmark for crude oil is currently trading near $105 per barrel after hitting $110 on Friday.  Tight supplies and news that the European Union has proposed a ban on Russian oil imports within six months have put additional upward pressure on global crude prices, which make up about half the price of finished gasoline.

According to the Energy Information Administration, domestic crude stocks are about 14% lower than a year ago.  While U.S. gasoline supplies are falling, demand increased slightly to just under nine million barrels per day.

“If gas prices keep climbing, more Americans are likely to modify their travel behavior,” Conde said.  “But for now, most people will grit their teeth and move forward with their current vacation plans.”

Here’s a look at Idaho gas prices as of 5/9/22:

• Boise – $4.53
• Coeur d’Alene – $4.37
• Franklin – $4.47
• Idaho Falls – $4.38
• Lewiston – $4.47
• Pocatello – $4.40
• Rexburg – $4.50
• Twin Falls – $4.50

 

Updated 4/25/22

Idaho Hit by Record Gas Prices Amid Volatile Crude Oil Market

BOISE – Idaho drivers continue to feel the pain at the pump.  According to AAA, the state’s average price for a gallon of regular is $4.44 today, the highest on record.  That’s four cents more than a week ago, and three cents more than a month ago.  Meanwhile, the national average is $4.12, which is three cents more than a week ago, but 12 cents less than a month ago.

AAA says that the cost of crude oil has remained above $100 per barrel for the past two weeks but is currently trading near $97 per barrel.  Concerns over a COVID-induced economic slowdown in China and uncertainty in the global crude supply are contributing to significant market volatility.

“As long as we hover near $100 per barrel for crude, we’re not likely to see much relief at the pump,” says AAA Idaho public affairs director Matthew Conde.  “Gas prices may teeter-totter back and forth over the next few weeks, but if crude oil is still expensive in the run-up to Memorial Day, rising fuel demand could push the price of fill-ups even higher.”

Today, the Gem State ranks 9^th in the country for most expensive fuel, trailing California ($5.69), Hawaii ($5.24), Nevada ($5.08), Washington ($4.69), Oregon ($4.67), Alaska ($4.65), Arizona ($4.55), and Utah ($4.51).  26 states are currently above the $4 mark.

This week, U.S. gasoline demand increased slightly to 8.9 million barrels per day, while the domestic supply of crude oil fell by 8 million barrels.  If those trends continue, both could lead to more expensive gas prices.

“There aren’t any great deals on fuel right now, but every little bit helps.  Discounts are offered by all kinds of organizations, such as grocery chains, cell phone providers, credit card companies and the gas companies themselves,” Conde said.  “Look for opportunities to use your regular purchases to ‘double-dip’ by earning rewards and saving a few bucks at the pump.”

Here’s a look at Idaho gas prices as of 4/25/22:

• Boise – $4.54
• Coeur d’Alene – $4.09
• Franklin – $4.45
• Idaho Falls – $4.39
• Lewiston – $4.20
• Pocatello – $4.45
• Rexburg – $4.50
• Twin Falls – $4.52

 

Updated 4/11/22

Cost of Crude Oil Dips Slightly, U.S. and Idaho Gas Prices Follow

BOISE – Recently-announced plans to release crude oil from the Strategic Petroleum Reserve and ongoing concerns about rising COVID-19 infection rates in China may have put downward pressure on crude prices, but so far, Idaho drivers aren’t saving much on fill-ups.

According to AAA, Idahoans are paying an average of $4.40 for a gallon of regular today, which is two cents less than a week ago but six cents more than a month ago.  Drivers in other parts of the country are faring much better – the national average currently sits at $4.11 per gallon, which is eight cents less than a week ago and 22 cents less than a month ago.

“It’s too early to tell if tapping the reserve will achieve the ultimate goal of helping stabilize the global supply, as that strategy is just getting underway,” says AAA Idaho spokesman Matthew Conde.  “The West Texas Intermediate (WTI) benchmark for crude hit a high point of $124 per barrel about a month ago, and it’s trading near $94 today, so a continuation of that trend would be welcome news as people start thinking about driving more this spring.”

While gasoline supplies decreased and fuel demand increased slightly this week, neither was enough to offset the slipping cost of crude.

“Supply and demand, both in the gas and crude oil markets, may fluctuate quite a bit over the next few weeks, and we may experience wobbly prices at the pump,” Conde said.  “In the meantime, please accept some tried-and-true advice – if you own more than one vehicle, drive the car with the best MPG for daily errands, and remove excess weight from the roof and out of the trunk to stretch your dollar.  Finally, bundle trips and avoid stop-and-go traffic as much as possible.”

Here’s a look at Idaho gas prices as of 4/11/22:

• Boise – $4.53
• Coeur d’Alene – $4.01
• Franklin – $4.46
• Idaho Falls – $4.38
• Lewiston – $4.08
• Pocatello – $4.41
• Twin Falls – $4.50

 

Updated 3/28/22

AAA’s “One-Tank Getaways” Keep Costs Down

BOISE – As gas prices climb, Idaho families are looking for a change of scenery that won’t break the bank.  AAA recommends a “one-tank getaway” (give or take a couple of gallons) to explore the treasures in our own backyard.

“Because we live in close proximity to such amazing places, we may be tempted to take them for granted,” says AAA Idaho public affairs director Matthew Conde.  “With pump prices putting a major strain on the family budget, a short-range adventure this spring can satisfy the desire to travel while preserving the funds to pay for a bigger trip this summer.”

One-tank getaway ideas

From Boise:

• Baker City, OR (Oregon Trail, Sumpter Valley Dredge State Heritage Area)
• Pendleton, OR
• Hells Canyon National Recreation Area (Riggins)
• McCall (Ponderosa State Park, etc.)
• Twin Falls area (Shoshone Falls, Thousand Springs State Park, City of Rocks)
• Bruneau Sand Dunes and Observatory
• Craters of the Moon National Monument
• Sun Valley/Ketchum

From Twin Falls:

• Salt Lake City, UT
• Wendover, NV/UT
• Stanley (Yankee Fork Gold Dredge, ghost towns of Bonanza and Custer)
• Lava Hot Springs

From Pocatello:

• Yellowstone & Grand Teton National Park
• Jackson Hole, WY
• Provo, UT
• Park City, UT

From Idaho Falls:

• Butte, MT
• Bozeman, MT
• Salt Lake City, UT

Because some destinations are more remote, AAA recommends bringing an emergency kit, complete with food, water, extra clothing, blankets, a basic first aid kit, a flashlight with extra batteries, some flares or reflectors, and basic tools.

Always have your vehicle inspected before taking a road trip, especially if services along the way may be limited.  Share your travel plans with a friend or family member who can act on your behalf if you fail to arrive or return on time.

“Keep in mind that this time of year, temperatures can still get very chilly at higher elevations and in the late night and early morning hours, and the roads may be difficult to traverse,” Conde said.  “Always choose a trip with safety in mind, and check road and weather conditions before you go.  If the timing isn’t right for some destinations, there are plenty of other options that will do the trick.”

Gas Price Report

Today, Idaho’s average price for regular gasoline is $4.42 per gallon, which is seven cents more than a week ago and 88 cents more than a month ago.  While prices are climbing across the state, they’re even higher in the Treasure Valley and the Magic Valley but are below the average in the Panhandle and parts of Eastern Idaho.

Meanwhile, the national average currently sits at $4.25 per gallon, the same as a week ago and 64 cents more than a month ago.  The Gem State ranks 11^th in the country for most expensive fuel and may return to the top ten as early as this week.

“Continued volatility in a tight crude oil market is being felt at the pumps.  The West Texas Intermediate is currently trading near $106 per barrel, and our domestic stock levels are 18% lower than a year ago,” Conde said.  “Crude prices may fall this week if Shanghai imposes further COVID-19 lockdown procedures that would likely reduce oil demand.”

After hitting $4.33 on March 11, the U.S. average has decreased by nearly a dime, but Idaho prices continue to rise.  In recent months, the biggest increase in vehicle miles traveled has occurred in the West, with more distance to cross between some destinations.

Here’s a look at current gas prices as of 3/28/22:

• Boise – $4.54
• Coeur d’Alene – $4.10
• Franklin – $4.39
• Idaho Falls – $4.33
• Lewiston – $4.12
• Pocatello – $4.42
• Twin Falls – $4.51

 

Updated 3/21/22

Idaho Gas Prices Dip Slightly to Start Spring Break Week

BOISE – A slight dip in gasoline demand and crude oil prices led to a modest decrease at the pumps this week, but one that drivers aren’t likely to notice.  According to AAA, the price of crude oil briefly dropped below $95 per barrel last week but is now trading near $110 per barrel.  If the pattern of higher crude prices continues, pump prices will likely follow.

Today, Idaho’s average price for regular is $4.35 per gallon, which is a penny less than a week ago and 83 cents more than a month ago.  Meanwhile, the national average currently sits at $4.25, which is eight cents less than a week ago and 72 cents more than a month ago.

“Fuel demand fell this week as higher gas prices likely motivated some of the folks who were on the fence about taking a road trip to change course,” says AAA Idaho public affairs director Matthew Conde.  “But according to our booking data, flights, tours, car rentals and hotels are trending above pre-pandemic levels for March, April, and May in places like Florida, Mexico, and Hawaii.  Those who made arrangements before prices spiked will likely follow through on them.”

According to recent AAA research, 59 percent of Americans say they will adjust their driving habits when the price of fill-ups hits $4 per gallon, and 75 percent will make changes at the $5 mark.  But of the 52 percent of Americans who are planning a summer vacation, nearly half say that they will not modify their trip, regardless of the price of gasoline.

This spring, top warm weather destinations include:

1. Orlando, FL
2. Cancun, Mexico
3. Honolulu, HI
4. Las Vegas, NV
5. Kahului, Maui, HI
6. Phoenix, AZ
7. Tampa, FL
8. Ft. Lauderdale, FL
9. Miami, FL
10. Montego Bay, Jamaica

While some will trade winter coats for swimsuits and sandals, others will head to nearby state and National Parks or popular theme parks to get a break from their regular routine.

AAA urges vacationers to purchase travel insurance that protects their investment by selecting a plan that specifically covers interruptions due to COVID-19.  Pack masks, hand sanitizer, disinfecting wipes, and disposable gloves in case they are needed along your journey.

“Crude prices soared after the Russian invasion of Ukraine, then teeter-tottered under market speculation surrounding increased production by other countries and new lockdowns in China amid rising infection rates,” Conde said.  “The volatility is going to come fast and from a variety of directions for the foreseeable future, including the aftermath of Europe’s decision as to whether or not it will join the United States in boycotting Russian energy supplies.”

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

• Boise – $4.44
• Coeur d’Alene – $4.10
• Franklin – $4.30
• Idaho Falls – $4.25
• Lewiston – $4.11
• Pocatello – $4.33
• Twin Falls – $4.44

 

Updated 3/17/22

Cost of Crude Oil Briefly Dips, Now Surging Again

BOISE – Idaho drivers aren’t feeling very lucky this St. Patrick’s Day, with fill-ups costing more “green” than ever before.  According to AAA, Idaho’s average price for regular gas set a new record on Tuesday at $4.37 per gallon, then dipped slightly as the cost of crude oil dropped below $100 per barrel earlier this week.  But crude prices are back on the rise today, and if the trend continues, pump prices will follow.

“It feels pretty strange to talk about crude ‘falling’ to $95 per barrel yesterday, but we hit $123 per barrel just over a week ago,” says AAA Idaho public affairs director Matthew Conde.  “Prices are climbing today with the market projecting that global supplies will get even tighter in the coming weeks as sanctions against Russia take effect.”

Today, Idaho’s average price is $4.36 per gallon, which is six cents more than a week ago, 84 cents more than a month ago, and $1.40 more than a year ago.  Meanwhile, the national average currently sits at $4.29, which is three cents less than a week ago, 77 cents more than a month ago, and $1.41 more than a year ago.

Today, the top ten most expensive places to buy gas are California ($5.79), Hawaii ($5.12), Nevada ($5.03), Washington ($4.73), Alaska ($4.72), Oregon ($4.71), Arizona ($4.62), Illinois ($4.54), New York ($4.41), and the District of Columbia ($4.40).  The Gem State currently ranks 13^th in the country for most expensive fuel.

The West Texas Intermediate benchmark for crude oil is currently trading near $103 per barrel, up $8 from yesterday.  Crude oil prices make up about half the price of finished gasoline.

“Budgeting for road trips and family vacations later this spring and summer may depend on how we economize fuel right now,” Conde said.  “If you have more than one vehicle, drive the one with the best mpg.  Bundle trips wherever possible and try to avoid backtracking or idling in traffic.”

Here’s a look at Idaho gas prices as of 3/17/22:

• Boise – $4.46
• Coeur d’Alene – $4.14
• Franklin – $4.34
• Idaho Falls – $4.25
• Lewiston – $4.13
• Pocatello – $4.34
• Twin Falls – $4.46

 

Updated 3/14/22

Cost of Crude Oil Slips, Record-Setting Gas Prices Press Pause

BOISE – After reaching $123 per barrel last week, AAA says that the cost of crude oil has dropped in recent days and is currently trading near $102 per barrel.  If the trend continues, it could bring some relief to a gasoline market that is besieged by record-breaking prices.

“It’s too early to definitively state that the past few days are evidence of a long-term course correction,” says AAA Idaho public affairs director Matthew Conde.  “Further developments surrounding the Russian invasion of Ukraine, the upcoming switch to more-expensive summer-blend fuel, and possible refinery downtime due to seasonal maintenance may have an impact on the price of crude oil and gas in the coming weeks, to say nothing of growing fuel demand.”

According to AAA, Idaho’s average price for regular is $4.36 per gallon, which is 40 cents more than a week ago and 84 cents more than a month ago.  Meanwhile, the national average is slightly lower at $4.33, which is 26 cents more than a week ago and 84 cents more than a month ago.  Prices held steady over the weekend.

Eight states and the District of Columbia now have gas price averages above the $4.50 mark, including California ($5.74), Nevada ($4.96), Hawaii ($4.96), Washington ($4.74), Oregon ($4.74), Alaska ($4.73), Arizona ($4.60) and Illinois ($4.57).  After dipping as low as 26^th place in recent weeks, Idaho currently ranks 13^th in the country for most expensive fuel.

According to the Energy Information Administration’s latest estimate, gasoline demand has increased to nearly 9 million barrels per day.  In addition to the exorbitant cost of crude, shrinking fuel stocks and rising demand are both contributing to higher pump prices, albeit to a lesser degree.

Domestic crude oil stocks are also down 17% from a year ago.

“With the likelihood of continued market volatility, we need to conserve as much fuel as possible in our daily routine,” Conde said.  “Try to plan errands during off-peak hours and eliminate as much doubling back and stop-and-go traffic as possible.  Take anything heavy that you don’t need off the roof rack or out of the trunk, and shop for the best prices on fuel with the AAA mobile app or a similar tool.”

Gas theft advice

Now that fuel prices have reached record-breaking levels, there is a greater temptation to steal it.  Siphoning used to be a popular method, but since newer vehicles make the process much more difficult, thieves have started drilling directly into the fuel tank to steal gasoline.

AAA recommends parking your car in the garage at home, or in a well-lit area if you’re out and about.  If possible, park where there is plenty of foot traffic, such as near an exit or elevator.

To determine if you’ve been a victim of fuel theft, look for the following signs:

• The smell of gas as you approach your vehicle
• Puddle underneath the car near the location of the fuel tank
• The vehicle does not start
• The fuel gauge shows lower than it was when you last drove the vehicle.

“Fuel tanks can cost as much as $1,000 to replace,” Conde said.  “If you’ve been targeted by thieves, file a police report, and reach out to your insurance agent to see if your policy will cover the repairs.  Take your car to a trusted repair shop as soon as possible.”

Here’s a look at Idaho gas prices as of 3/14/22:

• Boise – $4.45
• Coeur d’Alene – $4.14
• Franklin – $4.37
• Idaho Falls – $4.27
• Lewiston – $4.13
• Pocatello – $4.34
• Twin Falls – $4.47

 

Updated 3/10/22

For Most Americans, $4 Per Gallon is the Pain Threshold

BOISE – As gas prices across the country and here in Idaho continue to shatter old records set in 2008, AAA says that for many Americans, $4 per gallon is the tipping point that will force them to change their driving habits.

According to AAA’s new research, half of U.S. adults feel that gas priced at $3 or more per gallon is “too high,” consistent with previous studies.  But 59% of Americans say they will adjust their lifestyle when prices hit the $4 mark, with the number climbing to 75% at the $5 mark.

Today, the average price for a gallon of regular in Idaho is $4.30, which is 68 cents more than a week ago and 78 cents more than a month ago.  Meanwhile, the national average currently sits at $4.32 per gallon, which is 59 cents more than a week ago and 84 cents more than a month ago.  The rising cost of crude oil continues to put upward pressure on gas prices.

“Rising fuel prices can affect everything from mass transit and ride-hailing services like Uber and Lyft to food deliveries and shipping costs,” says AAA Idaho spokesman Matthew Conde.  “Everyone is feeling the pinch, and it’s getting more challenging to shift funds to cover the expense.”

While many Americans will adjust their daily activities to offset the rising cost of fill-ups, they’re still likely to travel this summer.  AAA’s survey found that 52% plan to take a vacation, and of that group, 42% say that they will not consider changing their travel plans regardless of the price of gas.

“If you’re going to travel, it would be wise to beef up your budget.  Road trips may get much more expensive, especially over longer distances.  Airfares may be impacted by the higher price of jet fuel, and hotels and restaurants may also have to charge more for their products and services,” Conde said.  “Some families may try to conserve fuel and save a little money by selecting a major city or resort that can serve as a base camp, then focus on local activities.”

Of the U.S. adults who responded that they would make a change to offset higher gas prices, 80% say that they would drive less.  18- to 34-year-olds are almost three times as likely to consider carpooling as their older counterparts, while mature drivers are more likely to combine trips and errands and to reduce shopping and dining out.

Here’s a look at Idaho gas prices as of 3/10/22:

• Boise – $4.37
• Coeur d’Alene – $4.11
• Franklin – $4.40
• Idaho Falls – $4.18
• Lewiston – $4.20
• Pocatello – $4.29
• Twin Falls – $4.42

 

Updated 3/7/22

U.S. Average Gas Price Flies Past $4 Mark, Idaho to Follow as Soon as Tomorrow

BOISE – It’s been another rough weekend at the pump.  According to AAA, the national average is now above the $4-per-gallon mark for the first time since July 2008, and Idaho gas prices will follow as soon as tomorrow.  Escalated conflict between Russia, Ukraine and other nations continues to drive crude oil prices higher and, in turn, gas prices.

Today, the U.S. average price for regular is $4.07, which is 46 cents more than a week ago, 63 cents more than a month ago, and $1.30 more than a year ago.  Meanwhile, Idaho’s average price is $3.96, which is 42 cents more than a week ago, 44 cents more than a month ago, and $1.24 more than a year ago.  The Gem State currently ranks 26^th in the country for most expensive fuel.

“These high prices are a bitter pill for drivers to swallow.  We’ve now reached the point where some people may have to think about revising or even canceling their spring break plans,” says AAA Idaho public affairs director Matthew Conde.  “Gasoline demand is still building as the weather gets nicer, but that may grind to a halt if families decide that they can no longer reallocate funds to pay for expensive fill-ups.”

The nation’s top ten most expensive markets are California ($5.34), Hawaii ($4.69), Nevada ($4.59), Oregon ($4.51), Washington ($4.44), Alaska ($4.39), Illinois ($4.30), Connecticut ($4.28), New York ($4.26), and Pennsylvania ($4.23).

The West Texas Intermediate benchmark for crude oil is currently trading near $117 per barrel, which is $19 more than a week ago, $26 more than a month ago and $52 more than a year ago.

Current domestic crude oil stocks are approximately 15% lower than a year ago, and gasoline demand also rose slightly in the last week to 8.74 million barrels per day, with both putting pressure on gas prices.  As tensions build surrounding Russia’s invasion of Ukraine, including the possibility of boycotting Russian oil exports, the price of crude could climb even higher.

“Increased fuel demand and the upcoming switch to more-expensive summer-blend fuel still loom on the horizon,” Conde said.  “We may be in for a very bumpy ride.”

Last week, the International Energy Agency announced the largest coordinated release of crude oil in the organization’s history, with 31 member nations committing to release a total of nearly 62 million barrels from their strategic reserves.  However, this amount is small in comparison to the quantity of crude that flows from Russia, an estimated five million barrels per day.

Ways to save on fuel

• Tires & maintenance – keep your vehicle in top shape with routine inspections and make sure your tires are properly inflated.
• Plan ahead – map your route before you go to minimize unnecessary turnarounds and backtracking. Avoid peak travel times, and bundle errands whenever possible.
• Watch your speed – fuel economy peaks at around 50 mph on most cars, then drops off as speeds increase. Reducing highway speeds by 5 to 10 mph can increase fuel economy by as much as 14%.
• Avoid excessive idling – a car engine consumes one quarter to one-half gallon of fuel per hour when idling, but a warm engine only takes around 10 seconds worth of fuel to restart. Where safe to do so, shut off your engine if you will be stopped for more than a minute.
• Anticipate road conditions – watch the traffic ahead and “time” stoplights to maintain momentum and avoid unnecessary stop and go.
• Regular vs. Premium – if regular gas is recommended for your vehicle, that’s all you need. Opting for premium when your car doesn’t require it will only cost you money and doesn’t improve fuel economy.  For more information, check your owner’s manual.
• Shop around & save – to find the best gas prices in your area, use the AAA Mobile App.

Here’s a look at Idaho gas prices as of 3/7/22:

• Boise – $4.14 (was $3.61 a week ago)
• Coeur d’Alene – $3.85 (was $3.36 a week ago)
• Franklin – $3.76 (was $3.37 a week ago)
• Idaho Falls – $3.79 (was $3.41 a week ago)
• Lewiston – $3.82 (was $3.40 a week ago)
• Pocatello – $3.84 (was $3.50 a week ago)
• Twin Falls – $3.97 (was $3.62 a week ago)

 

Updated 3/4/22

U.S. Gas Prices Spike 11 Cents Overnight, Idaho Average Jumps by Nine Cents

BOISE – Ouch.  The skyrocketing price of crude oil is causing tremendous pain at the pump, and the effects are now being felt here in Idaho.  According to AAA, the national average price for regular gas spiked by 11 cents overnight, while prices in the Gem State jumped nine cents.

“When crude oil was in the $90-per-barrel range, low fuel demand made Idaho one of the last holdouts as gas prices started climbing,” says AAA Idaho spokesman Matthew Conde.  “But with the price of crude oil now over $110 per barrel and travel demand slowly ramping up, our state is following the awful trend that’s taking place nationwide.”

Today, the U.S. average price for regular is $3.84, which is 23 cents higher than on Monday.  Idaho drivers are faring slightly better – the average price currently sits at $3.71, which is 17 cents more than on Monday.  Dramatic increases have taken hold in every part of the Gem State.

AAA says that the national average has not been this high since March 2012.  Idaho’s average has not been this high since November of last year.

“Escalating violence in Ukraine is stoking market uncertainty, and crude oil is extremely volatile right now,” Conde said.  “Unfortunately, we probably haven’t seen the worst of it.  With a potential ban on crude oil imports from Russia, the upcoming switch to more-expensive summer-blend fuel, and growing gasoline demand to kick off the spring driving season, there could be plenty to frown about as we stop to fill up over the coming weeks and months.”

The last time Idaho and the national average reached $4 per gallon was in the summer of 2008.

Here’s a look at Idaho gas prices as of 3/4/22:

• Boise – $3.80 (was $3.61 on Monday)
• Coeur d’Alene – $3.58 (was $3.36 on Monday)
• Franklin – $3.59 (was $3.37 on Monday)
• Idaho Falls – $3.53 (was $3.41 on Monday)
• Lewiston – $3.68 (was $3.40 on Monday)
• Pocatello – $3.64 (was $3.49 on Monday)
• Twin Falls – $3.78 (was $3.62 on Monday)

 

Updated 2/28/22

Idaho Gas Prices Hold Steady While U.S. Average Soars

BOISE – Russia’s invasion of Ukraine is already having far reaching effects, bringing another wave of higher crude oil prices and sending the national average price of gasoline soaring.  But according to AAA, Idaho pump prices held steady for another week, even as the Oregon and Washington state averages hit the $4 mark.

“Right now, low fuel demand is acting like a relief valve to help keep prices stable in our state,” says AAA Idaho public affairs director Matthew Conde.  “But demand is slowly rising across the country, and the combination of expensive crude and more frequent fill-ups could spell trouble for some people’s spring break plans.”

Today, Idaho’s average price for regular is $3.54 per gallon, which is two cents more than a week ago and the same price as a month ago.  Meanwhile, the national average jumped to $3.61, which is eight cents more than a week ago and 25 cents more than a month ago.  Idaho fell three places this week, and now ranks 23^rd in the country for most expensive fuel.

Double-digit price increases occurred this week in Michigan (+18 cents), South Carolina (+16 cents), Kansas (+15 cents), Missouri (+15 cents), Indiana (+14 cents), Illinois (+14 cents), Tennessee (+14 cents), Georgia (+13 cents), North Carolina (+12 cents), and Arizona (+10 cents).

This week, domestic gasoline stocks dropped by 600,000 barrels, while demand rose slightly from 8.57 million to 8.66 million barrels per day.  If demand continues to rise, prices will likely follow.

The West Texas Intermediate benchmark for crude oil is currently trading near $96 per barrel, which is $5 more than a week ago, $10 more than a month ago, and $32 more than a year ago.

“Market volatility is never a good thing for crude oil or gas prices,” Conde said.  “If the situation in Ukraine continues to escalate, geopolitical tensions will only increase that volatility.”

Here’s a look at Idaho gas prices as of 2/28/22:

• Boise – $3.61
• Coeur d’Alene – $3.36
• Franklin – $3.37
• Idaho Falls – $3.41
• Lewiston – $3.40
• Pocatello – $3.49
• Twin Falls – $3.62

 

Updated 2/21/22

Idaho Gas Prices Now Below the National Average

BOISE – International tensions and the rising cost of crude oil have sent gas prices soaring in other parts of the country, but so far, Idaho has been spared from a similar fate.  According to AAA, the Gem State, which usually appears on the top ten list, currently ranks 20^th in the U.S. for most expensive fuel.  Prices here are now below the national average.

Today, Idaho’s average price for a gallon of regular is $3.52, which is the same as a week ago and two cents less than a month ago.  Meanwhile, the national average has spiked to $3.53 per gallon, which is four cents more than a week ago and 20 cents more than a month ago.

“With so much global uncertainty surrounding Russia and Ukraine, the price of crude oil remains incredibly high.  Up to this point, we’ve been fortunate to avoid feeling the effects in our state,” says AAA Idaho spokesman Matthew Conde.  “If an armed conflict triggers another jump in crude prices, or if fuel demand starts coming back in the run-up to spring break, we could see the streak of stubborn gas prices here in Idaho come to an end.”

The West Texas Intermediate benchmark for crude oil is currently trading near $93 per barrel, which is $32 more per barrel than a year ago.  Prices topped out at $95 a week ago.  Crude oil accounts for half the price of finished gasoline.

Idaho and Nebraska were the only states where pump prices fell or stayed the same this week.  The biggest price jumps occurred in Minnesota (+10 cents), Ohio (+9 cents), North Carolina (+9 cents), Maryland (+8 cents), New York (+7 cents), and New Hampshire (+7 cents).  Utah, where most of Idaho’s fuel is refined, saw the price of fill-ups jump five cents per gallon in a week – a possible sign of things to come in the Gem State.

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

• Boise – $3.57
• Coeur d’Alene – $3.36
• Franklin – $3.37
• Idaho Falls – $3.40
• Lewiston – $3.44
• Pocatello – $3.48
• Twin Falls – $3.62

 

Updated 2/14/22

Idaho Drops Out of Top Ten for Most Expensive Fuel

BOISE – Idaho drivers are feeling the love today, but the experience may be short-lived.  According to AAA, soaring gas prices in other parts of the country pushed the Gem State out of the top ten list for most expensive fuel, where it landed at 16^th place today.  Idaho was one of just seven states where prices fell or stayed the same from a week ago.

Today, Idaho’s average price for a gallon of regular is $3.52, the same as a week ago and three cents less than a month ago.  Meanwhile, the national average currently sits at $3.49, which is five cents more than a week ago and 18 cents more than a month ago.

“We aren’t seeing huge savings when we fill up, but we’ve been spared from some of the dramatic price hikes that are happening around the country,” says AAA Idaho spokesman Matthew Conde.  “As temperatures warm, rising fuel demand is combining with the high cost of crude oil to put significant upward pressure on gas prices.  We’re likely to feel the effects in our state very soon.”

This week’s biggest price jumps occurred in New Mexico (+18 cents), Delaware (+15 cents), North Carolina (+12 cents), Tennessee (+12 cents), Nebraska (+10 cents), and Maryland (+10 cents).

Nationwide, gasoline demand jumped by 900,000 barrels to reach 9.1 million barrels per day.  Gasoline stocks dropped by 1.6 million barrels over the same time period.  Meanwhile, the West Texas Intermediate benchmark for crude oil topped $93 per barrel late last week, a price not seen since September 2014.

“If fuel demand continues to rise in the run-up to spring, or if Russia pulls crude oil from the market in response to sanctions from the West over Ukraine, filling up will take a big chunk out of the family travel budget for spring break,” Conde said.  “Bundling your trips and avoiding heavy traffic may help stretch the fuel tank just a little bit.”

Here’s a look at Idaho gas prices as of 2/14/22:

• Boise – $3.58
• Coeur d’Alene – $3.37
• Franklin – $3.34
• Idaho Falls – $3.40
• Lewiston – $3.38
• Pocatello – $3.51
• Twin Falls – $3.61

 

Updated 2/7/22

$90 Crude Sends U.S. Pump Prices Soaring – How Soon Will Idaho Follow?

BOISE – According to AAA, the skyrocketing cost of crude oil has pushed the national average price of gasoline to its highest level since 2014.  Idaho and Washington were the only two states in the country where prices fell this week.

Today, drivers in the Gem State are paying an average of $3.52 for a gallon of regular gasoline, which is a penny less than a week ago and four cents less than a month ago.  But the U.S. average spiked this week, with prices eight cents higher than a week ago and 14 cents higher than a month ago.  Drivers were particularly hard-hit in Michigan (+15 cents), Ohio (+14 cents), Florida (+12 cents), Indiana (+11 cents), Minnesota (+11 cents), Delaware (+11 cents), and Maryland (+10 cents).

AAA says that $90 crude oil was enough to send pump prices soaring this week despite falling demand and increasing gasoline stocks that normally occur this time of year.  The latest surge in crude prices is due to rising demand for heating oil in frigid parts of the country, as well as concerns that Russia may withhold crude oil from an already tight global market if it faces western sanctions over recent tension with Ukraine.

The West Texas Intermediate benchmark for crude oil is currently trading near $91 per barrel.

“Idaho prices are decreasing, but now it’s a really slow drip.  If the current trend of high crude oil prices continues, it’s only a matter of days or weeks before the spigot shuts off entirely,” says AAA Idaho public affairs director Matthew Conde.  “As fuel demand comes roaring back this spring, we could find ourselves approaching $3.80 or even $3.90 per gallon at some point this year.”

Domestic crude oil stocks are still about 13 percent lower than this time last year.  If inventories decline further, crude prices could continue to climb.

Here’s a look at Idaho gas prices as of 2/7/22:

• Boise – $3.58
• Coeur d’Alene – $3.37
• Franklin – $3.36
• Idaho Falls – $3.39
• Lewiston – $3.37
• Pocatello – $3.50
• Twin Falls – $3.60

 

Updated 1/24/22

$85 Crude Oil Putting Pressure on U.S. Gas Prices

BOISE – In a winter that has been anything but typical, AAA reports that the rising cost of crude oil is driving the national average price of gasoline higher.  But there’s some good news – Idaho is one of just ten states that saw gas prices dip slightly in the last week.

Today, the Gem State’s average price for regular is $3.54, which is a penny less than a week ago, five cents less than a month ago and $1.24 more than a year ago.  Meanwhile, the U.S. average currently sits at $3.33, which is two cents more than a week ago, four cents more than a month ago and 93 cents more than a year ago.

The West Texas Intermediate benchmark for crude oil topped out at $87 per barrel last week, its highest price since late 2014.  WTI is currently trading near $83 per barrel, which is $8 more than a month ago and $30 more than a year ago.  Crude oil makes up half the price of finished gasoline.

“The belief that fuel demand will return in the coming weeks is combining with tight oil supplies to keep the price of crude high.  Domestic oil stocks are about 15% lower than a year ago, but gasoline demand is 9% higher,” says AAA Idaho public affairs director Matthew Conde.  “If the conflict between Russia and Ukraine escalates, that tension could put even more upward pressure on the price of crude.  That’s tough news for drivers who are looking for a little more wiggle room in their travel budget as they make plans for a spring break vacation.”

Idaho currently ranks 9^th in the country for most expensive fuel, trailing California ($4.64), Hawaii ($4.35), Washington ($3.96), Oregon ($3.93), Nevada ($3.81), Alaska ($3.77), and the District of Columbia ($3.56).

“Weather events may curb gasoline demand at times this winter, but with OPEC holding fast to a schedule of very modest production increases, there may not be much in the way of relief on the supply side anytime soon,” Conde said.

Here’s a look at Idaho gas prices as of 1/24/22:

• Boise – $3.60
• Coeur d’Alene – $3.38
• Franklin – $3.43
• Idaho Falls – $3.38
• Lewiston – $3.45
• Pocatello – $3.54
• Twin Falls – $3.61

 

Updated 1/10/22

Idaho Gas Prices Drop Two Cents, But U.S. Average is on the Rise

BOISE – The high price of crude oil continues to make filling up your gas tank an expensive proposition, despite rising gasoline supplies and falling demand.

According to AAA, Idaho’s average price for regular fuel is $3.55 per gallon, which is two cents less than a week ago and nine cents cheaper than a month ago.  Meanwhile, the national average currently sits at $3.30 per gallon, which is a penny more than a week ago and four cents less than a month ago.

“Crude oil supplies are still very tight.  So, when recent civil unrest in Kazakhstan took much of that country’s production offline, there were immediate ripple effects, and prices moved closer to $80 per barrel,” says AAA Idaho public affairs director Matthew Conde.  “As long as the market remains skittish, we will see fluctuations in the cost of crude and shaky gas prices, too.”

Today, the West Texas Intermediate benchmark for crude oil is trading near $78 per barrel, which is $6 more than a month ago and $26 more than a year ago.  Domestic crude stocks are 14 percent lower than in December 2020, and high crude prices have been enough to offset a recent build in gasoline supplies and demand that dropped by half a million barrels on the week.

2021 in review

Gas prices were at their least expensive in January, then climbed rapidly with the return of the spring driving season.  Skyrocketing prices slowed their trajectory due to an outbreak of the COVID-19 delta variant, but ultimately, travelers would not be deterred.  Last year, pent-up travel demand was just slightly below pre-pandemic levels for every major holiday.

While Idaho gas prices peaked in late July and early August, the national average reached its zenith in the run-up to Thanksgiving.  Continued concerns about the omicron variant and limited production increases by the Organization of the Petroleum Exporting Countries (OPEC) contributed to further market uncertainty, resulting in price instability.

“At one point in time, pump prices in the Gem State were 50 cents higher than in other parts of the country.  While they’re still much higher than anyone would like them to be, the gap has at least closed somewhat,” Conde said.  “Right now, falling demand is serving as a kind of pressure valve.  But once the weather improves and more people hit the road, we could see prices jump as we get closer to spring break.”

Here’s a look at Idaho gas prices as of 1/10/22:

• Boise – $3.64
• Coeur d’Alene – $3.33
• Franklin – $3.48
• Idaho Falls – $3.41
• Lewiston – $3.41
• Pocatello – $3.55
• Twin Falls – $3.62

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