Idaho gas prices jump 7 cents

The following is a news release from AAA Idaho.

BOISE – Buckle up, friends. Gas prices are rising across the country, including here in Idaho. According to AAA, Monday’s average price for a gallon of regular in the Gem State is $2.85 per gallon, which is about seven cents more than a week ago and two cents more than a month ago, but 25 cents cheaper than a year ago.

The national average is currently sitting near $2.88 per gallon, about the same as a week ago but five cents more than a month ago and about 22 cents less than a year ago. Despite the upward trend, Idaho is in 23rd place for the most expensive fuel, well out of its usual position in the top ten.

“Idaho had the 7th highest jump in gas prices this week, a fate shared by many of our neighbors here in the West,” says AAA Idaho public affairs director Matthew Conde. “We’ve seen a few contributing factors. Freezing temperatures reduced production at some of the refineries around the country. Demand is going up as people now stock up on fuel. And crude oil prices are rising. All of this could put additional upward pressure on gas prices this week.”

According to the Energy Information Administration, gasoline demand jumped by more than 900,000 barrels per day from the previous week.

The West Texas Intermediate benchmark for crude is currently trading near $62 per barrel, about $4 more per barrel than a month ago but still $10 cheaper than a year ago.

Here’s a look at Idaho gas prices as of Feb. 2:

Boise – $2.88
Coeur d’Alene – $2.59
Franklin – $2.64
Idaho Falls – $2.84
Lewiston – $2.71
Pocatello – $2.88
Rexburg – $2.87
Twin Falls – $2.92