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The following is a press release from AAA Idaho.
BOISE – The road travel season is on, driving gas prices for the ride.
According to AAA, today’s price to refuel in Idaho is $ 3.58, nine cents more than a week ago and 30 cents more than a month ago. Meanwhile, the national average currently stands at $ 3.15, two cents more than a week ago and seven cents more than a month ago.
AAA reports that the demand for gasoline across the country recently exceeded 10 million barrels per day for the first time on record. According to the Energy Information Administration, the jump of nearly one million barrels per day from the previous week has caused gasoline supplies to drop by nearly six million barrels.
In response, gas and crude oil prices continued their upward trajectory.
“’Turbulent’ isn’t a big enough word to describe what’s going on at the pumps these days,” says Matthew Conde, public affairs director for AAA Idaho. “It is clear that the surge in gas prices is not going to stop anytime soon, especially in the western states.”
With an increase of nine cents, Idaho drivers recorded the 4th biggest jump at the pump this week. Utah, which supplies most of Gem State’s fuel, led the way with an 11-cent increase.
On the week, nearly 25 state averages increased by at least two cents per gallon. Prices range from $ 2.76 per gallon in Mississippi to $ 4.31 per gallon in California.
At the close of Friday’s official trading session, the West Texas Intermediate price of crude oil rose $ 1.62 to almost $ 75 a barrel. Members of the Organization of the Petroleum Exporting Countries (OPEC) continue to disagree over proposed production increases, putting additional pressure on crude oil prices and, consequently, gas prices.
Here is a selection of gas prices in Idaho as of July 12:
- Boise – $ 3.67
- Coeur d’Alene – $ 3.39
- Franklin – $ 3.65
- Idaho Falls – $ 3.49
- Lewiston – $ 3.42
- Pocatello – $ 3.54
- Twin Falls – $ 3.67
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