Crude prices briefly dip, now surging again as Idaho sets record high gas prices

The following is a news release from AAA Idaho.

BOISE — Idaho drivers aren’t feeling very lucky this St. Patrick’s Day, with fill-ups costing more “green” than ever before. According to AAA Idaho’s average price for regular gas set a new record on Tuesday at $4.37 per gallon, then dipped slightly as the cost of crude oil dropped below $100 per barrel earlier this week.

But crude prices are back on the rise today, and if the trend continues, pump prices will follow.

“It feels pretty strange to talk about crude ‘falling’ to $95 per barrel yesterday, but we hit $123 per barrel just over a week ago,” says AAA Idaho public affairs director Matthew Conde. “Prices are climbing today with the market projecting that global supplies will get even tighter in the coming weeks as sanctions against Russia take effect.”

Idaho’s average price is $4.36 per gallon, which is six cents more than a week ago, 84 cents more than a month ago, and $1.40 more than a year ago.

Meanwhile, the national average currently sits at $4.29, which is three cents less than a week ago, 77 cents more than a month ago, and $1.41 more than a year ago.

The top ten most expensive places to buy gas are California ($5.79), Hawaii ($5.12), Nevada ($5.03), Washington ($4.73), Alaska ($4.72), Oregon ($4.71), Arizona ($4.62), Illinois ($4.54), New York ($4.41), and the District of Columbia ($4.40). The Gem State currently ranks 13 th in the country for most expensive fuel.

The West Texas Intermediate benchmark for crude oil is currently trading near $103 per barrel, up $8 from yesterday. Crude oil prices make up about half the price of finished gasoline.

“Budgeting for road trips and family vacations later this spring and summer may depend on how we economize fuel right now,” Conde said. “If you have more than one vehicle, drive the one with the best mpg. Bundle trips wherever possible and try to avoid backtracking or idling in traffic.”

Here’s a look at Idaho gas prices as of March 17:

• Boise – $4.46
• Coeur d’Alene – $4.14
• Franklin – $4.34
• Idaho Falls – $4.25
• Lewiston – $4.13
• Pocatello – $4.34
• Twin Falls – $4.46