BOISE – Idaho drivers are seeing a welcome sight at the gas pump – the state average is below the $4 mark for the first time since August.  But the recent trend may be disrupted by rising crude oil costs in the wake of ongoing tensions in the Middle East.

According to AAA, the average price for a gallon of regular in the Gem State is $3.99, which is six cents less than a week ago, 16 cents less than a month ago and 42 cents less than a year ago.  Meanwhile, the national average currently sits at $3.60 per gallon, which is 10 cents less than a week ago, 27 cents less than a month ago and 29 cents less than a year ago.

Idaho currently ranks 8th in the country for most expensive fuel behind California ($5.62), Washington ($4.90), Nevada ($4.79), Hawaii ($4.78), Alaska ($4.56), Oregon ($4.54), and Arizona ($4.32).  Today’s cheapest fuel can be purchased in Delaware and Georgia at $3.07 per gallon.  All 50 states are reporting cheaper gas prices than a week ago.

“In the days since Hamas terrorists attacked Israel, the crude oil market has faced some uncertainty, but as long as other nations don’t get directly involved in the conflict, those concerns may dissipate,” says AAA Idaho public affairs director Matthew Conde.  “This week, the price of fill-ups may bounce above and below $4 based on what crude oil prices and fuel demand are doing.”

The West Texas Intermediate cost of crude is back at $87 per barrel today, $4 less than a month ago but $2 more than a year ago.  Crude oil makes up more than half the price of finished gasoline.

According to the Energy Information Administration, gas demand increased by half a million barrels per day last week, while total gasoline stocks fell by 1.3 million barrels.  But if demand slumps this week, or if crude oil prices drop, drivers could continue to save at the pump.

Here’s a look at Idaho gas prices as of 10/16/23:

  • Boise – $4.02
  • Coeur d’Alene – $4.08
  • Franklin – $4.05
  • Idaho Falls – $3.92
  • Lewiston – $3.98
  • Pocatello – $3.94
  • Rexburg – $4.02
  • Twin Falls – $3.96