BOISE, Idaho — On Tuesday, the Gem State's average price for regular gas set a new record at $4.37 per gallon.
According to AAA Idaho, the U.S. and Idaho's average per-gallon price had not reached $4 since the summer of 2008. On Thursday, Idaho's average gas price sits at $4.36 -- 1 cent down from Tuesday, but 6 cents more than a week ago.
Idaho's prices at the pump are slightly higher than the U.S. average, which currently sits at $4.29 per gallon. One month ago, national gas prices were $3.52 -- 77 cents lower than Thursday's cost -- and one year ago, the U.S. average was $2.88 for a regular gallon of gas.
In the Gem State, the cost of gas averaged $2.96 a year ago, which is $1.40 lower than Thursday's price of $4.36, according to AAA.
The cost of crude oil dropped below $100 per barrel earlier this week, but prices are rising again Thursday. AAA said if the trend of increasing crude oil prices continues, the cost at the pump will follow suit.
"It feels pretty strange to talk about crude 'falling' to $95 per barrel yesterday, but we hit $123 per barrel just over a week ago," AAA Idaho public affairs director, Matthew Conde, said. "Prices are climbing today with the market projecting that global supplies will get even tighter in the coming weeks as sanctions against Russia take effect."
The West Texas Intermediate benchmark for crude oil is trading around $103 per barrel Thursday, according to AAA. The trading price is up $8 per barrel from Wednesday.
AAA Idaho said around half the price of finished gasoline is made up of crude oil prices.
"Budgeting for road trips and family vacations later this spring and summer may depend on how we economize fuel right now," Conde said. "If you have more than one vehicle, drive the one with the best mpg. Bundle trips wherever possible and try to avoid backtracking or idling in traffic."
A list of average gas prices on Thursday across cities in Idaho is included below, provided by AAA:
- Boise - $4.46
- Coeur d'Alene - $4.14
- Franklin - $4.34
- Idaho Falls - $4.25
- Lewiston - $4.13
- Pocatello - $4.34
- Twin Falls - $4.46
AAA also provided a list of the 10 most expensive locations to purchase gas in the U.S. on Thursday, with Idaho missing the list as the 13th most-expensive state for regular gas prices:
- California - $5.79
- Hawaii - $5.12
- Nevada - $5.03
- Washington - $4.73
- Alaska - $4.72
- Oregon - $4.71
- Arizona - $4.62
- Illinois - $4.54
- New York - $4.41
- District of Columbia - $4.40
To find the lowest gas prices in the Treasure Valley, visit KTVB's Interactive Map by clicking here.
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