Idaho gas prices are dropping, as the nation’s average price continues to fall in the shadow of the coronavirus pandemic and a crude oil price war between Saudi Arabia and Russia. According to the American Automobile Association, Idaho’s average price dropped 16 cents within the last week and currently sits at $2.32 a gallon, which is 21 cents cheaper than a month ago, and 20 cents less than a year ago. The U.S. average for regular gasoline has fallen to $1.98 a gallon, which is 46 cents cheaper than a month ago and 71 cents below prices a year ago. More than half of U.S. states are paying on average less than $2 a gallon. AAA-Idaho says on the supply side, disputes overproduction have motivated Saudi Arabia to flood the market with cheap crude oil, now approaching 20 dollars per barrel. On the demand side, health and safety precautions are keeping many Americans closer to home, including in the Gem State. AAA predicts that once the coronavirus has slowed, pent-up demand to work, travel, and recreate will push pump prices higher in a relatively short amount of time, and in time for major summer holidays. But for the next few weeks, the trend of cheaper pump prices is expected to continue. Washington’s average price is currently $2.74 a gallon, Oregon $2.69, Montana $2.02, and Utah $2.33. (AAA Idaho)
