BOISE, Idaho — Idaho now ranks 20th in the nation when it comes to gas prices according to the American Automobile Association (AAA).
International tensions and rising costs of crude oil have sent gas prices soaring in other parts of the country, but so far the Gem State has not been impacted. Although in the past, Idaho has appeared on the top ten list for the most expensive fuel in the nation.
Idaho's average price for a gallon of regular gas is at $3.52, which has stayed consistent with rates from a week ago and is two cents cheaper than a month ago. However, the national average has spiked to $3.53 per gallon, which is an increase of four cents from a week ago and more than 20 cents from the previous month.
"With so much global uncertainty surrounding Russia and Ukraine, the price of crude oil remains incredibly high," says AAA Idaho spokesperson, Matthew Conde, "Up to this point, we've been fortunate to avoid feeling the effects in our state. If an armed conflict triggers another jump in crude prices, or if fuel demand starts coming back in the run-up to spring break, we could see the streak of stubborn gas prices here in Idaho come to an end."
The West Texas Intermediate benchmark for crude oil is currently trading at $93 per barrel, an increase of $32 more per barrel compared to a year ago. Last week, prices topped out at $95. Crude oil accounts for half of the overall price of finished gasoline.
Idaho and Nebraska are the only states where pump prices fell or stayed the same this week. The largest jumps in prices occurred in Minnesota (+10 cents), Ohio (+9 cents), North Carolina (+9 cents), Maryland (+8 cents), New York (+7 cents), and New Hampshire (+7 cents).
Most of Idaho's fuel currently is refined in Utah, which saw an increase of five cents per gallon in one week; a potential sign of things to come in Idaho.
Gas prices in Idaho as of 2/21/22:
- Boise - $3.57
- Coeur d'Alene - $3.36
- Franklin - $3.37
- Idaho Falls - $3.40
- Lewiston - $3.44
- Pocatello - $3.48
- Twin Falls - $3.62
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