As the cost of crude oil falls to levels not seen since February of 2021, Idaho gas prices continue to inch lower this week.
According to the American Automobile Association, today’s average price for a gallon of regular in the Gem State is $3.29, about a penny less than a week ago, eight cents less than a month ago, and 60 cents less than a year ago. The national average currently sits at $3.16 per gallon, which is about two cents higher than a week ago, but ten cents less than a month ago and nearly fifty cents less than a year ago. Idahoans continue to pay the 10th highest price for gasoline in the nation.
The West Texas Intermediate benchmark for crude oil is currently trading near $57 per barrel. Crude oil makes up more than half of the price of finished gasoline, and a sustained drop in crude prices could translate to additional savings at the pump this week. However, AAA says motorists should enjoy the lower prices now before demand increases as the Memorial Day Holiday nears and prices are expected to climb.
Of the state’s largest cities, Boise has the lowest average price for a gallon of regular at $3.23, while Lewiston continues to have the state’s highest average price at $3.35.
