Idaho gas prices dropping

On the whole, U.S. motorists are paying a discounted average price for gasoline that is 89 cents a gallon lower than a year ago, with some exceptions.

The sum of the parts has taken some attention off price fluctuations being felt in various parts of the country, according to AAA Idaho. Planned and unplanned refinery maintenance has restricted refinery utilization rates to below 80 percent in the Midwest region for the first time since 2013, according to the U.S. Energy Information Administration. Prior to the fall turnaround season, the Midwest utilization rate was nearly 99 percent.

“Tight supplies equal higher pump prices in the Midwest,” said AAA Idaho spokesman Dave Carlson. “Meanwhile, Idahoans are getting some relief at the pump and a little less attention for an average pump price that had been approaching a 50-cent spread above the national average mark a month ago.”

Based on AAA’s Daily Fuel Gauge Report, www.fuelgaugereport.AAA.com, Idaho’s average price is $2.52, down 30 cents from a month ago — closing a gap with the U.S. average price that had grown to 46 cents per gallon a month ago. The U.S. average price today is $2.31, down just a nickel from a month ago. The squeeze on finished gasoline from refineries serving the Midwest demonstrates the potential for price volatility even during otherwise stable conditions, AAA said. Just a week ago, for instance, the average price in Nebraska was $2.35. Today, motorists in the Cornhusker state are paying the same $2.52 price as Gem State motorists.

What’s ahead? Ample domestic supplies are expected to temper any regional price spikes, preventing the national average from moving dramatically higher. Before the end of the year, drivers could see the national average fall below $2 per gallon for the first time since 2009, assuming crude oil prices do not increase and there are not unexpected disruptions to supply, according to AAA.

“For the moment, Idaho is in the peculiar position of having enjoyed among the largest price declines in the past month, but we’re still paying the eighth-highest prices in the country,” Carlson said.