BOISE – Idaho gas prices are at their lowest level in nearly three years, but the recent trend of plummeting prices may soon come to an end.

According to AAA, the average price for a gallon of regular in the Gem State is $2.89, just a third of a penny less than a week ago, but still 25 cents cheaper than a month ago and 70 cents less than a year ago.  Meanwhile, the national average currently sits at $3.15 per gallon, which is four cents more than a week ago and six cents more than a month ago, but 33 cents less than a year ago.

Idaho currently ranks 32nd in the country for most expensive fuel.

“On the AAA gas prices heat map, Idaho is in the blue for the first time that I can remember.  The entire Rockies region is benefitting from abundant gasoline stocks that have been roughly 20% higher than a year ago in recent weeks,” says AAA Idaho public affairs director Matthew Conde.  “But with the national average on the rise this week and a miniscule drop in the state average, we may see Gem State pump prices change course in the near future.”

According to the most recent report from the Energy Information Administration, gasoline demand jumped by about 200,000 barrels per day.  If demand increases again this week, it could apply upward pressure on gas prices.

AAA says that gasoline supplies could also tighten in the coming weeks as refineries wind down winter-blend fuel production in preparation for the switch to summer blend.

The West Texas Intermediate benchmark for crude oil is currently trading near $73 per barrel, which is $4 less than a week ago, $1 less than a month ago, and $1 less than a year ago.

Here’s a look at Idaho gas prices as of 2/5/24:

  • Boise – $2.91
  • Coeur d’Alene – $3.10
  • Franklin – $2.69
  • Idaho Falls – $2.53
  • Lewiston – $3.17
  • Pocatello – $2.66
  • Rexburg – $2.73
  • Twin Falls – $2.79