Idaho gas prices down 2 cents this week

The following is a news release from AAA Idaho.

BOISE – It was a quiet week at Idaho gas pumps, with the state average dropping by two cents to $3.49 for a gallon of regular. AAA says Monday’s price is about two cents more than a month ago but eight cents less than a year ago.

The national average currently sits at $3.16 per gallon, which is about three cents more than a week ago, but the same price as a month ago and 19 cents less than a year ago. The Gem State again ranks 7th in the country for the most expensive fuel, with California leading the way at $4.56.

“We’ll take ‘calm,’ but we may flip the script later this week as people start fueling up for Labor Day travel,” says AAA Idaho public affairs director Matthew Conde. “Given the strong turnout for the past several holidays, we don’t see Labor Day breaking the pattern of very busy roads.”

The West Texas Intermediate benchmark for crude oil is trading near $65 per barrel, $1.50 more than a week ago and the same price as a month ago. This comes after the Energy Information Administration recently reported a 6-million-barrel drop in crude oil inventories. If supplies tighten or demand surges this week, the price of crude could rise, bringing gas prices with it.

“Modest gasoline demand helped us last week, and refineries continue to operate near 97% of capacity,” Conde said. “Anything that alleviates pressure in the supply chain could bring savings at the pump this week or at least help offset any late-summer spikes.”

Here’s a look at Idaho gas prices, as of Aug. 25:

Boise – $3.58
Coeur d’Alene – $3.37
Franklin – $3.33
Idaho Falls – $3.38
Lewiston – $3.38
Pocatello – $3.44
Rexburg – $3.48
Twin Falls – $3.49