Crude oil up $10 in a week. Will pump prices follow?

The following is a news release from AAA Idaho.

BOISE – It’s been a rough couple of months for crude oil and gas prices, and though Idaho gas prices have barely moved this week, the surging cost of crude could wreak havoc for drivers in the coming days.

According to AAA, Monday’s average for a gallon of regular in the Gem State is $4.33, which is two cents more than a week ago, seven cents more than a month ago, and $1.03 more than a year ago.

The national average currently sits at $4.11 per gallon, which is seven cents more than a week ago, 14 cents more than a month ago, and 96 cents more than a year ago. Today, Idaho again ranks eighth in the country for the most expensive fuel, with California leading the way at $5.95 per gallon and Oklahoma prices the cheapest at $3.50 per gallon.

“The West Texas Intermediate benchmark for crude is trading at about $10 more per barrel than just a week ago. A higher cost of raw materials generally leads to a more expensive finished product – in this case, gasoline, diesel, even jet fuel,” says AAA Idaho public affairs director Matthew Conde. “Until some of the geopolitical conflicts are stabilized, we could be on a rollercoaster ride with crude and pump prices.”

A barrel of crude now trades in the futures market for $96, about $36 more than a year ago.

Here’s a look at Idaho gas prices as of April 27:

Boise – $4.35
Coeur d’Alene – $4.16
Franklin – $4.11
Idaho Falls – $4.29
Lewiston – $4.11
Pocatello – $4.35
Rexburg – $4.26
Twin Falls – $4.37