Gas Prices Jump 10 Cents in Idaho Within a Week
We were warned that gas prices would surge here in Idaho soon. This week, those high gas prices showed up. The average price of a gallon of regular gas has jumped 10 cents just in the past week! The average price of gas here in Idaho is $2.60 per gallon - that is 15 cents more than a month ago and seven cents more than it was a year ago.
No where is safe! No matter where you go in Idaho, you're bound to experience surging gas prices. Some are even experiencing a 12 to 18 cent increase in just a week. Rising gas prices has been a national trend recently. The U.S. average is $2.72 per gallon which is 30 cents more than a month ago and 28 cents more than a year ago. AAA says that the national average will hit $2.80 per gallon some time in March. While Idaho prices are still 12 cents cheaper than the national prices, that could flip.
Just a week ago, oil and gas experts in Texas said that gasoline prices may increase up to $3 to $4 a gallon by the end of the year. That could be a lot sooner than later for Idaho. Idaho is known for sometimes having higher gas prices than the national average with prices being 20 to 30 cents higher, so it's really only a matter of time before we hit $3 per gallon here in the gem state. Some predict we could be filling up our tanks for this much as early as Memorial Day!
The increasing prices are reportedly due to a decline in refinery production from the recent winter storms as well as a higher demand with more people wanting to travel after being vaccinated against COVID-19.