BOISE – The cost of crude oil is on the rise, and Idaho drivers are starting to feel the effects at the pump.

According to AAA, today’s average price for a gallon of regular in the Gem State is $3.39, which is a penny and a half more than yesterday, but a penny less than a week ago and 27 cents less than a month ago.  Meanwhile, the national average currently sits at $3.32 per gallon, which is six cents more than a week ago and 17 cents more than a month ago.

Idaho’s average price is just seven cents above the national average, and the Gem State currently ranks 15th in the country for most expensive fuel.

“Right now, gasoline demand is fairly flat, which makes sense given the colder temperatures and people not traveling as much.  But as fears of a global economic recession eased a bit this week, the cost of crude oil has started climbing, which puts upward pressure on pump prices,” says AAA Idaho public affairs director Matthew Conde.  “Utah, where most of our finished gasoline is refined, saw a seven-cent jump this week.  Idaho drivers could soon feel the ripple effect.”

AAA says that flat gasoline demand and growing supplies helped curb the hike in fuel prices this week, and demand is not expected to surge until closer to spring break.  But China recently announced plans to increase its crude oil purchases this year, and the market took it as a sign that crude demand may be stronger than anticipated, sending oil prices higher in the process.

The West Texas Intermediate benchmark for crude oil is currently trading near $80 per barrel, which is $5 more than a week ago and $6 more than a month ago.  If the trend of expensive crude continues, drivers could pay more to fill up this week.

Here’s a look at Idaho gas prices as of 1/17/23:

  • Boise – $3.41
  • Coeur d’Alene – $3.21
  • Franklin – $3.28
  • Idaho Falls – $3.31
  • Lewiston – $3.49
  • Pocatello – $3.32
  • Rexburg – $3.42
  • Twin Falls – $3.40