Average gas prices down in Idaho

A report from AAA found that a combination of wildfires and cheaper crude oil becoming available has brought down the average cost of gas 2 cents from last week.

As of Monday, the national average is down to $3.55 and average cost of gas in Idaho is $3.57.

Along with decreasing prices, the report also noted a rising fuel demand.

Last year at this time, the fuel cost in the Gem State was 34 cents more per gallon.

Idaho ranks 13th in the country for most expensive fuel. 

AAA Idaho public affairs director Matthew Conde said, “Fuel demand did increase for the week, but that may be tied to longer road trips that were already in the works. People are still taking that vacation to Disneyland or Las Vegas, but there may be some reluctance to make a spontaneous weekend getaway right now.” 

According to the Energy Information Administration, gasoline demand jumped by nearly 700,000 barrels to 9.5 million barrels per day. 

Refineries across the country continue to operate at nearly 92% of capacity, with the Rockies region leading the way at 94%.

The West Texas Intermediate benchmark for crude oil is currently trading near $75 per barrel, which is about $5 less than a week ago, $6 less than a month ago and $6 less than a year ago. Representatives from the Organization of the Petroleum Exporting Countries are meeting this week to discuss current crude oil trends and to recommend next steps. 

AAA staff believe if wildfire conditions improve, there could be a surge in late summer fuel demand that puts upward pressure on gas prices. 

Idaho gas prices as of Monday: Boise - $3.62, Coeur d’Alene - $3.43, Franklin - $3.48, Idaho Falls - $3.43, Lewiston - $3.49, Pocatello - $3.56, Rexburg - $3.53, Shoshone County - $3.71 and Twin Falls - $3.59.

For more information, visit https://gasprices.aaa.com/.