BOISE – As Idaho drivers start gearing up for Black Friday sales, they may find themselves with a bit more spending money.
According to AAA, the average price for a gallon of regular in the Gem State is $3.20, which is eight cents less than a week ago, 25 cents less than a month ago, and 59 cents less than a year ago.
The national average currently stands at $3.08 per gallon, which is two cents less than a week ago, 13 cents less than a month ago, and 30 cents less than a year ago.
Idaho drops to 10th in the country for most expensive fuel behind Hawaii ($4.57), California ($4.52), Washington ($4.02), Nevada ($3.78), Oregon ($3.59), Alaska ($3.55), Pennsylvania ($3.28), District of Columbia ($3.26), and Arizona ($3.21).
“Prices have been in our favor most of the year, and they’re getting even better. Rexburg drivers are saving a shocking 28 cents per gallon from a week ago, nine cents in Idaho Falls, seven cents in Twin Falls, and ten cents in the Treasure Valley,” says AAA Idaho public affairs director Matthew Conde. “As cooler weather chills driving activity, we hope for even more savings this week.”
Crude oil dynamics
As they have for nearly a month, crude oil prices continue to teeter totter near the $70 mark. Today, the West Texas Intermediate benchmark for crude oil is trading near $68 per barrel, which is $3 less than a week ago, $8 less than a month ago, and $9 less than a year ago.
Why the savings?
According to the Energy Information Administration, gasoline demand fell by 300,000 barrels per day, while U.S. refineries increased production to 90.5% of capacity. These factors, combined with lower oil prices, have helped tame prices at the pump this week.
Here’s a look at Idaho gas prices as of 11/11/24:
- Boise – $3.18
- Coeur d’Alene – $3.03
- Franklin – $3.20
- Idaho Falls – $3.01
- Lewiston – $3.33
- Pocatello – $3.29
- Rexburg – $3.11
- Twin Falls – $3.20