The state average has remained near $3.93 per gallon since mid-April
BOISE – (April 29, 2024) – Idaho gas prices are in a holding pattern this week, with the state’s average price for regular at $3.93 per gallon (give or take a fraction of a penny) since April 17. It’s a welcome reprieve from the previous trend of soaring week-over-week prices to kick off the spring.
According to AAA, Gem State drivers are currently paying 27 cents more than a month ago and 22 cents more than a year ago. Meanwhile, the national average sits at $3.66 per gallon, which is two cents less than a week ago, 12 cents more than a month ago, and four cents more than a year ago.
Idaho currently ranks 9th in the country for most expensive fuel, behind California ($5.40), Hawaii ($4.81), Washington ($4.68), Nevada ($4.59), Oregon ($4.49), Alaska ($4.38), Arizona ($4.03), and Illinois ($3.95). 29 states saw gas prices fall this week.
“The state average hasn’t budged in a while, giving Idaho drivers some time to catch their breath,” says AAA Idaho public affairs director Matthew Conde. “But prices in the Treasure Valley are still very close to the $4 mark, and the pressure is building in the Pocatello area and in other parts of the state. We may be able to hit the pause button for another week or two if we’re lucky, but as we get closer to Memorial Day, an uptick in fuel demand may push us over the top.”
According to the Energy Information Administration, U.S. gas demand dropped by nearly 200,000 barrels per day last week, but stock levels also dipped by 600,000 barrels. Regional refineries increased production to 85.7% of capacity but are still nowhere near the production rate of 88.5% nationwide.
The West Texas Intermediate benchmark for crude oil is currently trading near $83 per barrel, which is the same as a week ago and $1 less than a month ago, but $6 more than a year ago. While some market fears have eased surrounding the conflicts between Ukraine and Russia and Iran and Israel, any increase in geopolitical tensions could push oil prices higher, which in turn could impact the price of finished gasoline.
While today’s most expensive gas can be found in California at $5.40 per gallon, the cheapest fuel can be purchased in Mississippi at $3.08 per gallon.
“The Environmental Protection Agency recently granted a waiver to allow continued sales of E85 gasoline for most of May and will likely renew the waiver throughout the summer in an effort to help alleviate pump prices,” Conde said. “We’ll have to wait and see how effective that strategy is when road trip season is in full swing.”
Here’s a look at Idaho gas prices as of 4/29/24:
Boise – $3.99
Coeur d’Alene – $3.86
Franklin – $3.91
Idaho Falls – $3.86
Lewiston – $3.85
Pocatello – $3.96
Rexburg – $3.88
Twin Falls – $3.91
For more information, please visit https://gasprices.aaa.com and the AAA Fuel Price Finder.