Idaho gas prices shoot up 24 cents in the past 10 days, now higher than national average

The following is a news release from AAA Idaho.

IDAHO FALLS — Idaho gas prices are higher than the national average today. According to AAA, the state’s average price for regular is $2.84, while the current U.S. average is $2.83.

In the last ten days, Gem State prices have skyrocketed by 24 cents, while the national average increased by ten cents in the same time period.

Idaho prices dipped below the national average on Dec. 22 last year, where they remained until Thursday. While prices across the country have been steadily climbing due to rising crude oil prices, market speculation about the end of the COVID-19 pandemic, and refinery issues during recent winter storms, Gem

State drivers could at least take comfort in the fact that they were paying less than many of their U.S. counterparts. That is no longer the case.

“At one point in time, Idaho ranked 36th in the country for most expensive fuel, which was a welcome break from our usual position in the 7th to 9th -place range. Today, we’re all the way back up to 15th ,” says AAA Idaho public affairs director Matthew Conde. “We’ve seen a lot of supply-side issues that have put upward pressure on gas prices, but with fuel demand expected to rise and the upcoming switch to more-expensive summer-blend fuel, things are going to get pretty bumpy.”

Crude oil prices are rising in part due to ongoing production cuts by the Organization of the Petroleum Exporting Countries (OPEC). At the end of last week, the organization made a surprise announcement to add just 170,000 barrels of crude oil per day even though market observers expected an increase of 1.5 million barrels. The news sent shockwaves through the market.

Summer-blend gasoline is more expensive to produce because it requires additional processes to prevent it from evaporating at high temperatures.

“AAA’s previous research shows that most people won’t consider changing their driving behavior until prices reach $3.50 per gallon,” Conde said. “While we could hit the $3 mark this spring, we don’t expect that to deter many people who have made the decision to take a road trip.”

Here’s a selection of Idaho gas prices as of March 11:

• Boise – $2.95
• Coeur d’Alene – $2.66
• Franklin – $2.88
• Idaho Falls – $2.72
• Lewiston – $2.71
• Pocatello – $2.83
• Twin Falls – $2.81