Idaho drivers saw little change at the pump this week, but with the cost of crude oil now at a 10-month high, gas prices could be on the move soon – for the worse.
According to the American Automobile Association, the West Texas Intermediate benchmark for crude oil is currently trading near
$91 per barrel, the most since November of last year.
Soaring crude has already pushed the national average price for regular gas to $3.88 per gallon, which is a nickel more than a week ago, a penny more than a month ago and 20 cents more than a year ago. For now, Idaho’s average is holding steady at $4.15 per gallon, which is half a penny less than a week ago, four cents more than a month ago, but 27 cents less than a year ago.
“Idaho gas prices aren’t climbing right now, but with the price of fill-ups increasing in other parts of the country, the seasonal savings that usually come after Labor Day are nowhere in sight,” says AAA Idaho public affairs director Matthew Conde. “It feels like we’ve been marooned on a desert island, but unlike Gilligan’s Island, nobody’s laughing.”
This week, the Gem State dropped from 9th to 10th in the country for most expensive fuel behind California ($5.69), Washington ($5.05), Nevada ($4.92), Hawaii ($4.80), Oregon ($4.70), Alaska ($4.61), Arizona ($4.55), Utah ($4.30), and Montana ($4.20).
“In Idaho, we have no refineries of our own. The fact that Utah and Montana – where most of our finished gasoline comes from – have higher pump prices than we do suggests that we could experience similar challenges soon,” Conde said. “With OPEC’s production cuts expected to keep the price of crude oil high through the end of the year, our best hope for relief at the pump right
now is the prospect of lower fuel demand and the upcoming switch to cheaper winter-blend fuel.”
Motorists in Franklin are paying the highest average price for gas in Idaho at $4.36 per gallon, while Lewiston still has the lowest average price at $4.03.