Idaho gas prices now below national average - East Idaho News

Idaho gas prices now below national average

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The following is a news release from AAA Idaho.

IDAHO FALLS — International tensions and the rising cost of crude oil have sent gas prices soaring in other parts of the country, but so far, Idaho has been spared from a similar fate.

According to AAA, the Gem State, which usually appears on the top ten list, currently ranks 20th in the U.S. for most expensive fuel. Prices here are now below the national average.

Today, Idaho’s average price for a gallon of regular is $3.52, which is the same as a week ago and two cents less than a month ago. Meanwhile, the national average has spiked to $3.53 per gallon, which is four cents more than a week ago and 20 cents more than a month ago.

“With so much global uncertainty surrounding Russia and Ukraine, the price of crude oil remains incredibly high. Up to this point, we’ve been fortunate to avoid feeling the effects in our state,” says AAA Idaho spokesman Matthew Conde. “If an armed conflict triggers another jump in crude prices, or if fuel demand starts coming back in the run-up to spring break, we could see the streak of stubborn gas prices here in Idaho come to an end.”

The West Texas Intermediate benchmark for crude oil is currently trading near $93 per barrel, which is $32 more per barrel than a year ago. Prices topped out at $95 a week ago. Crude oil accounts for half the price of finished gasoline.

Idaho and Nebraska were the only states where pump prices fell or stayed the same this week. The biggest price jumps occurred in Minnesota (+10 cents), Ohio (+9 cents), North Carolina (+9 cents), Maryland (+8 cents), New York (+7 cents), and New Hampshire (+7 cents). Utah, where most of Idaho’s fuel is refined, saw the price of fill-ups jump five cents per gallon in a week – a possible sign of things to come in the Gem State.

Here’s a look at Idaho gas prices as of Feb. 21:

  • Boise – $3.57
  • Coeur d’Alene – $3.36
  • Franklin – $3.37
  • Idaho Falls – $3.40
  • Lewiston – $3.44
  • Pocatello – $3.48
  • Twin Falls – $3.62