Idaho gas prices inch up

COEUR d'ALENE — According to AAA, Monday’s average price for a gallon of regular in the Gem State was $2.92, which is 3 cents more than a week ago, but 16 cents less than a month ago and 75 cents cheaper than a year ago. 

The national average sits at $3.20 per gallon, which is 5 cents more than a week ago and 13 cents more than a month ago, but 22 cents cheaper than a year ago.

Some stations in the Coeur d'Alene area were under $3 a gallon Monday, but most were in the $3.05 to $3.10 range.

Idaho ranks 34th in the country for most expensive fuel. The Gem State’s average is typically 30-50 cents higher than the national average, but today, the reverse is true, AAA said.

“Gasoline demand is rising, and inventories are shrinking, creating upward pressure on prices across the nation,” said AAA Idaho public affairs director Matthew Conde. “However, the effect has been somewhat dampened in our region by strong refinery production. Pump prices may wobble back and forth this week, but a trend of more expensive fill-ups is likely on the horizon.”

According to the latest report by the Energy Information Administration, refineries across the country are operating at 82% of capacity, but production in the Rockies region shot up to nearly 91%. If production remains high, it could cushion the blow at Idaho pumps, according to AAA.

But U.S. gasoline demand jumped by nearly 600,000 barrels per day, and stocks decreased by three million barrels.

Some Idaho gas prices as of Monday: Boise, $2.90; Franklin, $2.85; Idaho Falls, $2.74; Lewiston, $3.14 and Twin Falls, $2.82.