Price watchers say $3 gas on horizon

IDAHO FALLS – Idaho gas prices continued their slow and steady retreat this week in apparent race toward the $3 threshold.

According to AAA, today’s average price for a gallon of regular is $3.44, about two cents less than a week ago and nine cents less than a month ago, but three cents more than a year ago.

The national average is creeping closer to the $3 mark. It’s currently just under $3.04 per gallon – a nickel less than a week ago, 15 cents less than a month ago, and 14 cents less than a year ago.

Idaho moved up one spot to 7 th in the country for the most expensive fuel behind California ($4.64), Hawaii ($4.47), Washington ($4.42), Oregon ($4.02), Alaska ($3.86), and Nevada ($3.85).

“Things are still moving in the right direction, but it’s taking a while,” says AAA Idaho public affairs director Matthew Conde. “The good news is that if crude oil prices and fuel demand continue to cool with the arrival of fall weather, we could see bigger savings in the near future.”

Seasonal factors could push prices even lower in the coming weeks, according to GasBuddy, which compiles prices from more than 12 million individual price reports covering more than 150,000 gas stations across the country.

GasBuddy forecasts the national average could dip into the $2.80s by year’s end as gasoline demand eases, and oil prices remain near multi-year lows.

The recent decline stems largely from OPEC’s decision earlier this year to increase oil production —marking a shift from its 2023 strategy of cutting output to prop up prices. Since March 2025, OPEC+ has steadily raised production, fueling expectations of a potential crude glut. Some investment banks now warn oil could fall into the $40-per-barrel range as early as 2026. Combined with falling seasonal demand and the switch to cheaper winter gasoline, pump prices have dropped sharply, including a $1.99 per gallon cash price reported to GasBuddy at a station in Evans, Colorado.

“We saw a few $2.99 days last year, but this year brings the strongest potential for extended sub-$3 prices since 2021,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “This drop is overwhelmingly being driven by the significant increase in oil production from OPEC throughout 2025, which has meaningfully rebalanced the global oil market. That, combined with weaker demand and inflation finally easing, has created the perfect environment for lower prices. While some may be quick to assign political credit, the reality is that global supply dynamics — particularly OPEC’s production decisions — have been the primary force behind the relief drivers are seeing at the pump.”

The West Texas Intermediate benchmark for crude oil is currently trading near $57 per barrel – about $13 less than a year ago. OPEC has completely rolled back all its previous production cuts and domestic crude production remains high, raising the possibility of an eventual glut in supply.

The Energy Information Administration also reported a small weekly drop in demand of nearly 500,000 barrels of gasoline per day, which may apply further downward pressure on pump prices.

Here’s a look at Idaho gas prices as of 10/20/25:

• Idaho Falls, $3.34
• Pocatello, $3.38
• Rexburg, $3.42
• Boise, $3.45
• Coeur d’Alene, $3.47
• Franklin, $3.38
• Lewiston, $3.30
• Twin Falls, $3.43