LEWISTON – Drivers might have an eerie feeling when they stop to fill up their cars for trick-or-treating tonight. According to AAA, Idaho’s average price for regular gasoline dipped just two cents this week, while the U.S. average is down three cents.
Today, the average price for regular in the Gem State is $4.33 per gallon, which is nine cents less than a month ago but 62 cents more than a year ago. Meanwhile, the national average currently sits at $3.76, which is four cents less than a month ago but 36 cents more than a year ago. Idaho ranks 7th in the country for most expensive fuel behind California ($5.57), Hawaii ($5.22), Nevada ($5.00), Oregon ($4.97), Washington ($4.92), and Alaska ($4.85).
The high cost of crude oil continues to prevent big savings at the pump, even as fuel demand is about 400,000 barrels less per day than a year ago. If crude oil costs are high in the run-up to Thanksgiving, holiday travel demand could reverse the recent trend and push pump prices higher.
“Gas prices are dropping, but it’s really slow going, and most families aren’t experiencing any serious relief,” says AAA Idaho public affairs director Matthew Conde. “Oil prices could continue to fluctuate, creating a teeter-totter effect on gasoline demand in the coming weeks.”
While the Idaho state average didn’t move much this week, drivers in the Magic Valley and some parts of Eastern Idaho are saving a nickel or more per gallon from a week ago.
The West Texas Intermediate benchmark for crude oil is currently trading near $85 per barrel, which is about six dollars more than a month ago and $1 more than a year ago.
“Market uncertainty is the ongoing theme in crude prices, which make up about 50% of the price of finished gasoline,” Conde said. “But if conditions improve, prices could start to behave more like they do in a typical fall season.”
Here’s a look at Idaho gas prices as of 10/24/22:
- Boise – $4.35
- Coeur d’Alene – $4.29
- Franklin – $4.13
- Idaho Falls – $4.16
- Lewiston – $4.45
- Moscow — $4.67
- Pocatello – $4.23
- Rexburg – $4.31
- Twin Falls – $4.24