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How high can they go?

by Brian Walker; Staff Writer
| March 27, 2018 1:00 AM

POST FALLS — Janice Roberts noticed something different when she pulled up to a gas pump in Post Falls on Monday.

"The price has really jumped," the Post Falls woman said. "I hope it doesn't reach $3 because spring and summer is when we use the most gas as a family."

Roberts' instincts were spot on.

Idaho's 16-cent increase over just the past week to a $2.72 average on Monday was the highest leap of any state in the country.

Coeur d'Alene's average increased a dime to $2.62 in the past week.

"The spring has come in like a lion — with no signs of slowing down," said AAA Idaho spokesman Matthew Conde.

Idaho fuel is the most expensive in the Rocky Mountain region.

"Right now the main contributing factors (to the price increase) appear to be a mild winter, a growing population that has higher fuel demand and is ready to get back to traveling, refineries that have to perform the maintenance needed before the summer drive season begins and recent shock waves in the crude oil market," Conde said.

Conde said AAA projected higher gas prices earlier this year, but the past part of February and the first three weeks of March were "deceptively quiet."

"What’s unusual is the strong spike that we saw over the last week," Conde said.

There may be another price rise with the loss of additional capacity in April due to continued refinery maintenance, Conde said. However, the increase will likely have a roof in the near future, he said.

"I’m not aware of anything that is likely to push us as high as $3 a gallon at this point," Conde said. "Based on our past survey results, most drivers won’t make any major changes to their budget or travel plans until it does. Barring some unforeseen development, prices could plateau 10 or 15 cents under that $3 mark."

The national gas price average on Monday was $2.61, 9 cents more than a month ago and 33 cents more than a year ago.

West Texas Intermediate (WTI) crude oil prices are also on the rise. Currently, a barrel of crude oil is trading near $65, about $5 higher than Jan. 1 oil prices and almost $18 more than a year ago.

Conde said there are ways motorists can save money during high fuel prices.

"Group errands together and travel during non-peak hours to avoid burning up costly fuel," he said.