Idaho gas prices jump 10 cents overnight
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The following is a news release from AAA Idaho on Tuesday. To view the cheapest gas prices in east Idaho, see the Pump Patrol.
BOISE – Just one month ago, Idaho drivers were paying an average price of less than $3 per gallon of regular gasoline. Now, the shocking possibility of $4 gas could be just around the corner.
According to AAA Idaho, the Gem State’s average price jumped 10 cents overnight to $3.79 per gallon, while the national average jumped 8 cents and is also at $3.79 per gallon. Some parts of Idaho saw even more shocking changes – Boise and Coeur d’Alene prices skyrocketed by 14 cents overnight, and in Lewiston by 17 cents overnight. Idaho now ranks 11th in the country for the most expensive fuel, up from 14th place just one day ago.
“Crude oil is trading at about $32 per barrel more than a month ago, and that higher cost is making its way down to drivers,” says AAA Idaho public affairs director Matthew Conde. “Until crude oil can be safely transported through the Strait of Hormuz, we are going to see intense pressure on the entire supply chain.”
Several nations recently agreed to release 400 million barrels of crude oil from their strategic reserves, but the benefits of the strategy are currently unknown.
“The market is working its way through some extreme anxiety right now. It’s pretty strange to say that 4-to-6 cent price hikes in Pocatello, Idaho Falls and Twin Falls are ‘calmer’ by comparison,” Conde said. “Washington and Hawaii will likely be over the $5 mark before the end of the day (joining California), and seven states have already topped the $4 mark. Unfortunately, there is little indication that pump prices are going to change course anytime soon.”
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