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Idaho, U.S. Pump Prices Slip Amid Low Demand, Recession Fears

LEWISTON – Gas prices are falling in the Gem State, but Idaho drivers are still getting more tricks than treats in the run-up to Halloween.  According to AAA, the state average for regular gasoline is $4.36 per gallon, which is about a nickel less than a week ago and a month ago, but 65 cents more than a year ago.


Meanwhile, the national average currently sits at $3.79, which is nine cents less than a week ago, but nine cents more than a month ago and 40 cents more than a year ago.  Today, Idaho ranks 8th in the country for most expensive fuel behind California ($5.75), Hawaii ($5.21), Alaska ($5.09), Oregon ($5.09), Nevada ($5.06), Washington ($5.02), and Arizona ($4.37).

“Gas prices are slowly heading in the right direction, but not necessarily for the right reasons,” says AAA Idaho spokesman Matthew Conde.  “In a typical year, the seasonal cold weather curbs demand and the switch to cheaper-to-make winter-blend fuel results in a nice price drop.  But this fall, the trend is tied to fears of a global recession and the unbearably high price of fill-ups.  Uncertainty is playing havoc with the market.”

According to recent data from the Energy Information Administration, gasoline demand is down nearly 1 million barrels from a year ago.  But crude oil prices remain high amid tight global supplies, with the West Texas Intermediate benchmark for crude currently trading near $85 per barrel.

If fuel demand remains low and recession fears continue, crude oil and gas prices could fall this week.  But as recently announced production cuts by the Organization of the Petroleum Exporting Countries (OPEC) begin to take effect, any shockwave in global supply could send prices higher.

“It has become a real challenge for some Idaho families to deal with the continued high pump prices,” Conde said.  “Take anything heavy that you don’t need out of your car or off your roof rack, group your trips whenever possible, and try to avoid traffic congestion if you can.  That could help you save some money to put toward your Thanksgiving travel plans.”

 Here’s a look at Idaho gas prices as of 10/24/22:

  • Boise – $4.38
  • Coeur d’Alene – $4.35
  • Franklin – $4.18
  • Idaho Falls – $4.21
  • Lewiston – $4.45
  • Moscow — $4.67
  • Pocatello – $4.25
  • Rexburg – $4.34
  • Twin Falls – $4.30

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