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AAA Gas Price Report: Idaho Gas Prices Drop Three Cents This Week – Is Savings Season Coming to an End? | Idaho
AAA Gas Price Report: Idaho Gas Prices Drop Three Cents This Week – Is Savings Season Coming to an End? | Idaho

BOISE – It was another week of savings at the pump for Idaho drivers, but prices could soon change.

According to AAA, the average price for a gallon of regular gasoline in the Gem State is $3.55, three cents less than a week ago, 23 cents less than a month ago and 43 cents less than a year ago. The national average held steady this week at $3.45 per gallon, 16 cents less than a month ago and 13 cents less than a year ago.

Idaho remains in 12th Ranked #1 for the most expensive fuel in the country – another week outside the top ten.

“Last week the state average dropped six cents and this week it dropped three cents. We may soon see a low point in pump prices for the entire summer,” says Matthew Conde, public affairs director for AAA Idaho. “With the 4th With July just around the corner and record numbers of travelers expected to hit the roads and airports, this season of unusual savings could soon be coming to an end.”

According to the Energy Information Administration, refineries nationwide are currently operating at 93.5% capacity, down 1.5% from the previous week. However, refineries in the Rocky Mountains have increased production, rising from just under 97% to an astonishing 98.3%.

In recent weeks, strong refinery production has helped offset rising demand, which rose to 9.4 million barrels per day, an increase of 400,000 barrels per day from the previous week. However, storm-related problems at a refinery in Corpus Christi and a heat-related problem at a refinery in Wood River, Illinois, could represent the first disruptions to the recent trend.

“When temperatures exceed 38 degrees Celsius, refineries experience more outages, which can impact the supply chain and therefore prices at the pump,” Conde said. “And if a hurricane makes landfall near a major refinery or metropolitan area, that can create additional chaos in the system.”

The West Texas Intermediate crude benchmark is currently around $82 a barrel, up $5 from a month ago and $12 from a year ago. For now, the recent rise is an anomaly – crude has been below the $80 mark every day except for a few days since early May.

Here’s a look at gas prices in Idaho as of 6/24/24:

  • Boise- $3.58
  • Coeur d’Alene – 3,49 €
  • Franklin- $3.55
  • Idaho Falls – 3,33 €
  • Lewiston- $3.62
  • Pocatello- $3.46
  • Rexburg – $3.55
  • Twin cases – $3.56

For more information, please visit https://gasprices.aaa.com/ and that AAA Fuel Price Finder.

By Everly