Idaho drivers eagerly anticipate the cheaper gas prices that usually arrive this time of year, but so far, we’re still playing the waiting game.
According to the American Automobile Association, the average price for a gallon of regular in Idaho is $4.14, a penny less than a week ago and a penny more than a month ago.
Meanwhile, the national average currently sits at $3.85 per gallon, three cents less than a week ago but three cents more than a month ago.
Idaho currently ranks 10th in the country for most expensive fuel.
Triple-A Idaho’s Matthew Conde says normally, prices begin dropping after Labor Day with the end of the summer driving season, combined with the switch to the more inexpensive winter-blend fuel. However, the price of crude oil remains high. The West Texas Intermediate benchmark for crude is still hovering near $90 per barrel, which is about $2 less than a week ago and $10 more than a month ago. Oil prices are fluctuating due to OPEC’s announcement that existing crude production cuts will remain in effect through the end of the year, coupled with market uncertainty over the possibility of an economic recession.
According to the most recent report by the Energy Information Administration, gas demand
increased slightly, while gasoline stocks dipped slightly. If supplies remain tight and if the cost of crude oil remains high, pump prices may hold steady or even increase this week.
Motorists in Franklin continue to pay the highest price per gallon for gas in Idaho at $4.28, while Idaho Falls has the lowest average price at $4.03. Lewiston’s average price is currently $4.04.
