Idaho Gas Prices Fail to Fall
Labor Day has come and gone in Idaho and across the country. The beginning of September usually coincides with a welcomed drop in gasoline prices. Unfortunately, that hasn't happened in the state of Idaho.
AAA Idaho says in a release the delay in the cost of gas is due to the impact of Hurricane Ida. According to AAA, nationwide fuel demand is starting to slip, but the high price of crude oil due to production issues in the Gulf has kept drivers from saving at the pump.
Idaho's gas prices are holding steady at $3.79 per gallon, the same as a week ago and two cents cheaper than a month ago. If you live in the Treasure Valley and Magic Valley, you're paying more for gas than the rest of the Gem State.
Idaho's gas prices are significantly higher than the national avereage, which is $3.18, a penny less than a week ago and a month ago. Idaho is currently ranked as the 6th most in the country for most expensive fuel, behind California, Hawaii, Nevada, Washington, and Utah.
"If you're a glass-half-full person, you appreciate that at least gas prices didn't surge with the high price of crude oil and so much production capacity taken offline by Ida," says AAA Idaho public affairs director Matthew Conde. "There is some good news on the horizon – demand is expected to fall over the next month or so, and the switch to cheaper-to-make winter-blend fuel should help prices as well. The big question is – when will the supply side of the equation start to cooperate?"
Utah, where most of Idaho's finished gasoline is refined, saw a price drop of two cents per gallon this week, which could be a sign of cheaper prices to come in the Gem State.
Nearly 48% of crude oil production in the Gulf is still shuttered, and several refineries in the area are also in a weeks-long process to resume operations. Today, the West Texas Intermediate benchmark for crude oil is trading near $70 per barrel.
If production issues continue, or if additional refinery capacity is impacted by the arrival of Tropical Storm Nicholas in Texas later this week, the price of crude oil and gas could increase, particularly in the regions most affected by the storm.
Here's a selection of Idaho gas prices as of 9/13/21 from AAA:
Boise - $3.89
Coeur d'Alene - $3.45
Franklin - $3.79
Idaho Falls - $3.73
Lewiston - $3.54
Pocatello - $3.80
Twin Falls - $3.90