Idaho gas price jumps to new record high

gas

Amid growing fuel demand and a turbulent crude oil market, Idaho drivers could be paying an average price of $4.50 per gallon sometime in the next few days.

According to the American Automobile Association, the state’s average price for regular is $4.48 per gallon today, which is about four cents more than a week ago and seven cents more than a month ago. Meanwhile, the national average currently sits at $4.33, which is 14 cents more than a week ago, and 21 cents more than a month ago. The Gem State currently ranks 13 th in the country for most expensive fuel.

Tight supplies and news that the European Union has proposed a ban on Russian oil imports within six months have put additional upward pressure on global crude prices, which make up about half the price of finished gasoline.

According to the Energy Information Administration, domestic crude stocks are about 14% lower than a year ago. While U.S. gasoline supplies are falling, demand increased slightly to just under nine million barrels per day.

Currently Boise has the highest average price for a gallon gas in Idaho at $4.53. Coeur d’Alene has the state’s lowest average price at $4.37. Lewiston’s average price for a gallon regular gas is $4.47.

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