2022 Idaho Gas Price News

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

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 13th 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 9th 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 11th 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 13th 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 26th place in recent weeks, Idaho currently ranks 13th 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 26th 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 23rd 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 20th 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 16th 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 9th 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.”

Idaho and U.S. Gas Price

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

For more gas price news, click here