Saturday, March 02, 2024

Kootenai County gas prices dip under $3

| February 6, 2024 1:00 AM

COEUR d'ALENE — Gas prices in Kootenai County dipped below $3 a gallon at some filling stations, but could begin climbing soon.

“On the AAA gas prices heat map, Idaho is in the blue for the first time that I can remember. The entire Rockies region is benefiting from abundant gasoline stocks that have been roughly 20% higher than a year ago, in recent weeks,” said Matthew Conde, AAA Idaho spokesman. “But with the national average on the rise this week and a miniscule drop in the state average, we may see Gem State pump prices change course in the near future.”

According to AAA, Idaho gas prices are at their lowest level in nearly three years. The average price for a gallon of regular was $2.89, a third of a penny less than a week ago, but 25 cents cheaper than a month ago and 70 cents less than a year ago. 

The average price in Coeur d'Alene was $3.10 per gallon.

Meanwhile, the national average was at $3.15 per gallon, which is 4 cents more than a week ago and 6 cents more than a month ago, but 33 cents less than a year ago.

Idaho ranks 32nd in the country for most expensive fuel.

According to the most recent report from the Energy Information Administration, gasoline demand jumped by about 200,000 barrels per day. 

AAA says that gasoline supplies could also tighten in the coming weeks as refineries wind down winter-blend fuel production in preparation for the switch to summer blend.

The West Texas Intermediate benchmark for crude oil was trading near $73 per barrel, which is $4 less than a week ago, $1 less than a month ago and $1 less than a year ago.

Here’s a look at Idaho gas prices as of Monday: Boise $2.91; Franklin $2.69; Idaho Falls $2.53; Lewiston $3.17; Pocatello $2.66 and Rexburg $2.73.