BOISE, Idaho — United States domestic oil production is down 15%, according to AAA Idaho Public Affairs Director, Matthew Conde.
President Biden announced a ban on Russian oil Tuesday. That will impact prices at the pumps here in the Gem State, Conde said.
"Who will make up this global imbalance? And as long as we're seeing these tensions and pressures on the system, the market hates volatility. The market hates uncertainty," Conde said.
The national average for a regular gallon of gas hit $4.17 Tuesday. That’s the highest average recorded in US history. Idaho's average is a little behind at $4.06; Idaho recorded its highest average ever in 2008 to the tune of $4.16.
Lower production is just one piece of the puzzle that's led to increasing gas prices over the past year. The cost of crude oil alone has doubled in price over the same time frame, Conde said.
The cost of crude oil determines 56% of what we pay for at the pump, according to the U.S. Energy Administration.
And it's everyday Idahoans, like Joseph Cleveland, that feel the burden in their day-to-day lives.
"It's getting pretty ridiculous," Cleveland said. "I'm thinking about having to try to find a closer-to-home job. I don't make a lot of money, but I make enough, but having to drive back and forth from Nampa every day is gonna be a pain in the butt."
Cleveland lives in Nampa and commutes to Boise for work. The 30-mile round trip wasn’t so bad when Cleveland paid $20 to fill his tank a year ago. He spent $40 Tuesday at Jackson's on Fairview Ave.
"It's gonna end up tallying up fairly quick," Cleveland said.
To get the most miles per gallon, AAA recommends checking your tires to ensure proper inflation. It's also beneficial to avoid stop-and-start traffic if possible. Lastly, AAA recommends shopping gas prices in your area and saving a couple of cents per gallon if possible.
"Those things are incremental gains. Certainly not enough to solve the problem," Conde said.
It's a problem Conde expects to get worse. In the summertime, gasoline is treated with additives to create a 'summer blend.' The additives prevent gasoline from evaporating at higher temperatures. This process costs more money and will be reflected in summer gas prices.
It is possible to see gas prices average around $4.50 in the coming months, Conde said.
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