BOISE – Travel volumes are expected to drop heading into the Fall, and gas prices could follow suit.
According to AAA, Idaho’s average price for a gallon of regular is $3.58, which is two cents less than a week ago, five cents less than a month ago, and 59 cents less than a year ago. Meanwhile, the national average currently sits at $3.33 per gallon, which is three cents less than a week ago, 15 cents less than a month ago, and 48 cents less than a year ago.
The Gem State currently ranks 9th in the country for most expensive fuel behind Hawaii ($4.66), California ($4.65), Washington ($4.16), Nevada ($3.97), Oregon ($3.78), Alaska ($3.72), Illinois ($3.64), and the District of Columbia ($3.59).
“Apart from weekend getaways here and there, we don’t expect a significant uptick in road trips until we get closer to Thanksgiving. In the meantime, we will hopefully see a continuation of the overall trend of lower pump prices since April,” says AAA Idaho public affairs director Matthew Conde. “We’re also about to make the switch to winter-blend fuel, which is less expensive to produce and may help us keep a few more of our hard-earned dollars.”
Some of the potential factors that may slow the arrival of cheaper gas prices include the possibility of geopolitical conflict, a hurricane making landfall near a major refinery, or unexpected maintenance issues that could arise as refineries switch to winter blend fuel. If any of these occur, prices at the pump could stagnate or even increase.
The West Texas Intermediate benchmark for crude oil is currently trading near $70 per barrel, which is nearly $6 less than a week ago, $3 less than a month ago, and about $16 less than a year ago. The cost of crude makes up more than half of the price of finished gasoline.
Idaho gas prices as of 9/3/24:
- Boise – $3.62
- Coeur d’Alene – $3.41
- Franklin – $3.56
- Idaho Falls – $3.43
- Lewiston – $3.46
- Pocatello – $3.60
- Rexburg – $3.51
- Twin Falls – $3.58