BOISE – For Idaho drivers, it’s been another week of rising gas prices, with no end in sight.
According to AAA, the average price for a gallon of regular in the Gem State is $4.06, which is a nickel more than a week ago and 15 cents more than a month ago. Meanwhile, the national average currently sits at $3.85 per gallon, which is two cents more than a week ago and 28 cents more than a month ago.
Today, Idaho ranks 9th in the country for most expensive fuel, trailing California ($5.15), Washington ($5.03), Hawaii ($4.78), Oregon ($4.68), Alaska ($4.48), Nevada ($4.39), Illinois ($4.16), and Utah ($4.08). Eleven states and the District of Columbia are currently above the $4 mark.
“Idaho gas prices dropped in July, bucking the national trend. But unfortunately, the ripple effects are catching up with us in August,” says AAA Idaho public affairs director Matthew Conde. “Right now, we’re experiencing a one-two punch of strong fuel demand and expensive crude oil, both of which translate to pain at the pump that could continue through Labor Day.”
According to the Energy Information Administration, gas demand jumped from 8.84 to 9.3 million barrels per day last week, while total gasoline stocks decreased by approximately three million barrels. And the West Texas Intermediate benchmark for crude oil is currently trading near $82 per barrel, which is about the same as a week ago and $7 more than a month ago. Both factors are playing a part in expensive fill-ups.
“Thankfully, refineries are operating at 93% of capacity across the country, and at over 91% in our region, which means that supplies are fairly steady,” Conde said. “But high temperatures have the potential to reduce production due to efficiency and safety concerns, and there’s still a possibility that hurricane season could throw a wrench in the works. With everything that’s going on, we don’t expect pump prices to drop in the near future.”
Here’s a look at Idaho gas prices as of 8/14/23, compared with a week ago:
Boise – $4.07 (+8 cents)
Coeur d’Alene – $4.03 (+4 cents)
Franklin – $4.08 (-5 cents)
Idaho Falls – $3.98 (+5 cents)
Lewiston – $4.02 (+9 cents)
Pocatello – $4.04 (+6 cents)
Rexburg – $4.02 (+1 cent)
Twin Falls – $4.00 (+4 cents)