Lower gas prices arrive for holidays

By BRIAN WALKER

Staff Writer

COEUR d'ALENE — Rose Bartlett was elated to receive a "special gift" at the gas pump Tuesday.

The Post Falls woman noticed the price drop from the last time she filled up.

"It's a relief, especially with the holidays," she said at a Coeur d'Alene station. "I've been waiting for this and am glad it's finally here."

The average prices Tuesday were $2.89 in Coeur d'Alene and $2.91 in Post Falls, according to AAA Idaho. The average in both cities was $3.12 just a month ago.

Still, the prices are considerably higher than a year ago at this time when they were $2.61 in Coeur d'Alene and $2.65 in Post Falls.

"Gas prices are behaving about how we would expect for this time of year with a fairly stable supply and reduced demand," said Matthew Conde, AAA spokesman. "However, OPEC (Organization of the Petroleum Exporting Countries) and Russia’s recent announcement that they will curb crude oil production casts considerable doubt on how long the savings trend will last."

In Coeur d’Alene, gas prices topped out at $3.13 on June 21, then hovered within a nickel of that number through Halloween.

"In the last week, prices really fell off the cliff, dropping by about 10 cents," Conde said. "It’s a welcome break from higher prices, and we’ll enjoy it for as long as it lasts."

Conde said that for the period between Thanksgiving and Christmas, demand should be low enough to absorb some of the market impact of higher crude oil prices, but that can only last so long.

"Some say that this will be a warm winter in many parts of the country," he said. "If that’s the case, the spring build-up in fuel demand could come earlier in 2019, though that may not be felt as deeply in northern Idaho. We’ll have to keep a close eye on that."

Local averages are sandwiched between the nation's average of $2.61 and the state's average of $3.01.

AAA predicts 2.3 million additional motorists over last year will travel on highways at least 50 miles for turkey time, bringing the total to 48.5 million.

Nearly 89 percent of holiday travelers will go by car this year, according to AAA. Air travel leads the way in percentage growth with a 5.4 percent increase (for a total of 4.2 million passengers), while other modes of travel (bus, cruise, train) were up slightly at 1.4 percent.

The estimated prediction of 54 million total travelers would be the highest since 2005.

"With consumer confidence at an 18-year high, many people were prepared to pay more to visit family and friends," Conde said.

AAA advises travelers to plan ahead. Check the weather and road conditions along your route before taking off; bring warm clothing, snacks and water; and take basic tools and first-aid kits, a flashlight and extra batteries.