Idaho Gas Prices 6th Most Expensive in the Nation
Gem State drivers continue to pay record prices compared to the low gas prices of last summer. There is some good news from our weekly check of gas prices in the Gem State. We didn't see a big spike in prices according to our friends at AAA. Prices were stable last week so at least they didn't go up as they have for several weeks in a row.
We do not know whether or not the situation in Afghanistan will impact the supply of gasoline to the United States. The entire Middle East is attempting to deal with the fall of Kabul. However, the resulting refugee crisis could cause oil-consuming countries a concern.
Idaho continues to be one of the most expensive states to purchase gasoline. The average price is $3.82, which is 18 cents more than a month ago and $1.39 more than a year ago.
Compared to the national average, which is $3.19, a $1.01 more than a year ago. Idaho is closing in on the top five in the country when it comes to the cost of gas. Right now, Idaho ranks 6th in the nation for the most expensive fuel. In an unusual turn of events, Utah and Idaho pump prices are currently higher than in Oregon.
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"With the start of the school year and concerns about the rising number of COVID-19 infections, gas prices could start to settle down sometime after Labor Day. But for now, market uncertainty is likely to create some twists and turns," says AAA Idaho spokesman Matthew Conde. "The only positive note is that things have been pretty quiet for the last couple of weeks, giving Idahoans at least a short reprieve from nearly constant price hikes."
According to the Energy Information Administration, gasoline supplies fell by 1.3 million barrels nationwide last week. But fuel demand also dropped to 9.4 million barrels per day over the same time period - about 500,000 barrels per day less than in 2019.
The high cost of crude oil continues to make fill-ups an expensive proposition. The West Texas Intermediate is currently trading for about $67 per barrel. Prices are slowly decreasing amid concerns that global crude demand may not rebound this year as anticipated. If COVID-19 infection rates remain high, the price of crude could slide even further this week.
Here's a selection of Idaho gas prices as of 8/16/21 from AAA:
Boise - $3.93
Coeur d'Alene - $3.47
Franklin - $3.86
Idaho Falls - $3.78
Lewiston - $3.49
Pocatello - $3.84
Twin Falls - $3.90