BOISE – Idaho drivers may be fighting freezing conditions, but falling gas prices are still on the move, and today, they’re even better than the national average.
According to AAA, the average price for a gallon of regular in the Gem State is $3.04, which is seven cents less than a week ago, 32 cents less than a month ago, and 33 cents less than a year ago.
The national currently sits at $3.07 per gallon, a penny less than a week ago, the same price as a month ago, and 24 cents cheaper than a year ago. Idaho ranks 20th in the country for most expensive fuel, improving by three spots in the rankings in just the past few days. 30 states are currently under the $3 mark, and the Gem State could join them later this week.
“Absolutely frigid temperatures are keeping folks closer to home these days, and with more winter weather in the forecast, the trend will probably continue this week,” says AAA Idaho public affairs director Matthew Conde. “Even if people can’t take full advantage of cheaper fill-ups with a nice long road trip, at least we’re saving some money on the daily commute.”
Today, Utah and Montana, which supply most of Idaho’s finished gasoline, rank 40th and 28th for most expensive fuel – a strong indicator that Gem State prices may drop further in the short term. Last year, Idaho’s average fell below the national average for about a week in late January.
The West Texas Intermediate benchmark for crude oil is currently trading near $72 per barrel, which is the same as a week and a month ago, but $8 less than a year ago. While gasoline demand increased nearly 400,000 barrels per day in the most recent report by the Energy Information Administration, the market is not reacting for the time being, given the recent cold snap.
Here’s a look at Idaho gas prices as of 1/16/24:
- Boise – $3.11
- Coeur d’Alene – $3.27
- Franklin – $2.72
- Idaho Falls – $2.67
- Lewiston – $3.54
- Pocatello – $2.57
- Rexburg – $2.97
- Twin Falls – $2.97