Gas prices decline

COEUR d'ALENE — Idaho drivers continue to see savings at the pump as economic fears drive down the cost of crude oil, according to AAA.

“Normally, when fuel demand increases and supplies tighten up, the price of fill-ups trends higher. But with the cost of crude in serious turmoil right now, that hasn’t been the case this week,” said Matthew Conde, AAA spokesman. “As long as the market is worried about the current banking climate and the possibility of a global recession, crude prices could continue to experience downward pressure that translates to lower pump prices, despite spring break travel.”

Monday, the average price for a gallon of regular in the Gem State was $3.62, which was 5 cents less than a week ago, 7 cents less than a month ago and 74 cents less than a year ago.

In Coeur d'Alene, a gallon of unleaded was going for as low as $3.20 to as high as $3.45.

The national average sits at $3.44, which is 3 cents less than a week ago, 7 cents less than a month ago, and 82 cents less than a year ago.

Idaho ranks 11th in the country for most expensive fuel behind California ($4.85), Hawaii ($4.82), Nevada ($4.27) and Washington ($4.25).

A 2022 survey from the National Association of Convenience Stores found that Idaho was the second-most unaffordable state to buy gas in 2022, relative to local salaries.

It said residents can expect 23.6% of the average hourly salary to cover the local cost of a single gallon of gas.

At $2.98 per gallon, today’s cheapest fuel can be found in Oklahoma.

“We continue to keep a close eye on Utah, where most of our state’s gasoline is refined,” Conde said. “While prices there have dropped lately, drivers in that state are still paying about 18 cents more than we are, which could be a sign of things to come in Idaho.”

The West Texas Intermediate benchmark for crude oil was trading near $66 per barrel, which is $10 less than a month ago, and $36 less than a year ago — when prices skyrocketed with the Russian invasion of Ukraine.

Here’s a look at Idaho gas prices as of Monday: Boise, $3.78; Franklin, $3.84; Idaho Falls, $3.45 and Lewiston, $3.33.