Idaho gas prices hit snooze button

The following is a news release from AAA Idaho.

BOISE – It’s been another quiet week at the pumps for Idaho drivers. As of July 29, the average price for a gallon of regular in the Gem State is $3.48, which is the same as a week ago, six cents more than a month ago, and nine cents less than a year ago.

The national average currently sits at $3.14 per gallon, which is about a penny less than a week ago, five cents less than a month ago, and 36 cents less than a year ago. Idaho remains in seventh place nationwide for the most expensive fuel, but it’s one of 38 states where gas prices fell or remained the same this week.

“Anecdotally, travel continues to be very robust, but crude oil prices have remained below the $70 mark, providing some relief on the supply side,” says AAA Idaho public affairs director Matthew Conde. “Oil and gas prices could teeter-totter as families race to complete their summer travel or swing dramatically if there’s a refinery issue, but thankfully, all is calm for the moment.”

The West Texas Intermediate benchmark for crude oil is currently trading near $69 per barrel, about $9 per barrel less than a year ago.

According to the most recent report by the Energy Information Administration, gasoline demand approached 9 million barrels per day, about 500,000 barrels per day more than the previous week. Fortunately, refineries also increased production, which helped offset the demand.

Here’s a look at Idaho gas prices, as of July 29:

Boise – $3.51
Coeur d’Alene – $3.33
Franklin – $3.33
Idaho Falls – $3.45
Lewiston – $3.29
Pocatello – $3.47
Rexburg – $3.49
Twin Falls – $3.49