Idaho's gas prices higher than U.S. average

| April 17, 2013 9:00 PM

Amid sluggish demand, signs of economic weakness and lower oil prices, U.S. gas prices have fallen 17 cents in the past month, giving motorists some relief at the pump, reports AAA Idaho.

But pump prices in Idaho aren't moving in the same direction. Prices are lower than they were a week ago in every state except the Gem State.

The average price for regular unleaded gasoline on Tuesday was $3.53, up 11 cents in the past month. The U.S. average price is $3.52, down 17 cents during the same period.

Idaho's average price is up, but not anywhere close to the $4.39 and $3.98 average prices today in Hawaii and California, respectively.

Still, Idaho is just one of five states where drivers are not paying less than a month ago.

"There may be nothing to read into the Idaho numbers, other than the fact that this regional Idaho-Utah market marches to another beat, due to its isolation from other regional fuel sources," said AAA Idaho Public Affairs Director Dave Carlson, in a press release. "Idaho prices were a quarter lower than the U.S. average two months ago and a quarter higher than the national mark five months ago."

Yesterday in formal trading on the NYMEX, WTI oil settled $2.58 lower, closing at $88.71. That's nearly six dollars a barrel less than a week ago and well below the $103 price a year ago. It also marks the first time since Christmas Eve that WTI settled below $90 a barrel.

Today's retail prices are significantly lower than the $3.77 average Idahoans were paying a year ago. The U.S. average was $3.91 a year ago.

Carlson said the annual spring refinery maintenance that precedes the switchover from winter grade fuels to summer blends resulted in regional shortages that pushed prices higher earlier this year.

Most of that work has been completed, so there should be plenty of oil and refined gas in inventory, AAA said.

Here's a look at local prices Tuesday in the Gem State: Boise, $3.58; Coeur d'Alene, $3.35; Idaho Falls, $3.45; Lewiston, $3.38; Nampa $3.59; Pocatello, $3.50; Twin Falls, $3.53.