It was a quiet week at Idaho gas pumps, with the state average dropping by two cents to $3.49 for a gallon of regular.
According to the American Automobile Association, the current price is about two cents more than a month ago but eight cents less than a year ago. The national average currently sits at $3.16 per gallon, which is about three cents more than a week ago, but the same price as a month ago and 19 cents less than a year ago.
AAA believes the price of gas could rise this week as demand increases prior to the Labor Day Holiday weekend.
The West Texas Intermediate benchmark for crude oil is trading near $65 per barrel, $1.50 more than a week ago and the same price as a month ago. This comes after the Energy Information Administration recently reported a 6-million-barrel drop in crude oil inventories. If supplies tighten or demand surges this week, the price of crude could rise, bringing gas prices with it.
Of Idaho’s largest cities, Boise has the state’s highest average price for a gallon of gasoline at $3.58, while Franklin has Idaho’s lowest average price at $3.33. Lewiston’s average price is currently $3.38.
