Idaho gasoline prices continue to edge upward.
According to the American Automobile Association, today’s average price for a gallon of regular in the Gem State is $2.94, which is five cents more than a week ago and 18 cents more than a month ago, but still 28 cents cheaper than a year ago.
The national average currently sits at $2.93 per gallon, which is about three cents more than a week ago and nine cents more than a month ago, but 23 cents less than a year ago. Idaho now ranks 14th in the country for the most expensive fuel, jumping up from 23rd place a couple of weeks ago.
According to the Energy Information Administration, crude oil stocks jumped by eight million barrels, while gasoline supplies jumped by two million barrels. Meanwhile, gasoline demand remained steady from the previous week. AAA says more supply could alleviate pump prices this week.
The West Texas Intermediate benchmark for crude is currently trading near $64 per barrel, about the same as a week ago but about $6 per barrel more expensive than a month ago.
Of Idaho’s largest cities, Twin Falls has the state’s highest-average price for a gallon of regular at $2.98, while Franklin has the state’s lowest-average price at $2.77. Lewiston’s average price is currently $2.84.
