BOISE, ID – Idaho gas prices are inching closer to the $3 mark, with rising crude oil costs pushing prices higher at the pump.
According to AAA Idaho, the average price for a gallon of regular gasoline in the Gem State on Monday is $2.97, up three cents from a week ago and 18 cents higher than a month ago. Despite the recent increases, prices remain 23 cents lower than they were this time last year.
The national average currently sits at $2.94 per gallon, a penny more than a week ago and eight cents higher than a month ago. Nationwide prices are still about 21 cents cheaper than a year ago.
Idaho ranks 13th in the country for the most expensive fuel. California continues to post the highest average price at $4.63 per gallon, while Oklahoma has the lowest at $2.34.
Price increases were reported in 34 of the 50 states this week, including sharp jumps in Oregon and Washington, where prices rose by 22 cents and 18 cents respectively.
The West Texas Intermediate benchmark for crude oil is trading near $66 per barrel, about $3 more than a week ago and roughly $6 higher than a month ago. Crude oil accounts for more than half the cost of finished gasoline, meaning further increases could translate to higher prices at the pump.
“We’re seeing the beginning of the spring thaw from a pricing standpoint,” said Matthew Conde, public affairs director for AAA Idaho. “However, it’s been a nice run to begin the year, and our prices are still some of the lowest they’ve been in years. We’ll pocket the savings for as long as possible.”
Here’s a look at average prices around Idaho as of Feb. 23:
- Boise — $2.94
- Coeur d’Alene — $2.95
- Franklin — $2.74
- Idaho Falls — $2.90
- Lewiston — $2.98
- Pocatello — $2.97
- Rexburg — $2.95
- Twin Falls — $2.96
AAA Idaho advises motorists to monitor fuel prices and plan ahead as spring demand and crude oil markets continue to influence costs.
