Gas prices in Idaho trending downward despite increased demand

With summer officially just days away and the travel season in full swing, demand for gas has increased as expected. However, prices have not.

Despite the uptick in demand, gasoline prices have been dropping in Idaho this week and could continue to slide downward.

“Despite robust travel to kick off the spring and summer driving season, pump prices continue to plummet,” said Matthew Conde, public affairs director for AAA Idaho . “Montana and Utah, which supply most of Idaho’s gasoline, are currently ranked 23rd and 24th in the nation for gas prices, which means that even more savings could be headed our way this week.”

In Idaho, the average price for a gallon of gas this week sat at $3.58, six cents less than last week, 25 cents less than a month ago and 40 cents less than a year ago, AAA reported.

The national average sits at $3.45 a gallon, which hasn’t changed in the last week, but is 15 cents cheaper than this time last month and 13 cents cheaper than this time last year.

According to AAA Idaho, the reason for the decline in prices despite the heightened demand is likely due to production. The agency reported that the Energy Information Administration stated that gasoline demand has increased to 9 million barrels per day, however production is outputting 10 million barrels per day.

“Refineries across the country are operating at 95% of capacity, with Rockies refineries at a whopping 97%. These favorable conditions are helping gas prices to tumble this week,” AAA stated.

If crude prices remain at $80 per barrel, AAA stated, it could help reduce prices further for drivers.

The average prices for a gallon of gas throughout the state as of the beginning of the week were:

Boise - $3.62

Coeur d’Alene - $3.49

Franklin - $3.39

Idaho Falls - $3.39

Lewiston - $3.63

Pocatello - $3.48

Rexburg - $3.56

Twin Falls - $3.62

The fuel monitoring website Gasbuddy.com listed the cheapest price for a gallon of gas on June 18 to be in Rigby at a Conoco station for $3.11 a gallon. The Costco in Idaho Falls sat at $3.14 a gallon, the same at Sam’s Club in Idaho Falls.

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