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Boise sees nearly 8 cent drop in gas prices

With a 7.7 cent dip across Boise gas stations, fuel prices are beginning to look better in 2024.

BOISE, Idaho — The average price of gas in Boise has dropped 7.7 cents in the past week, according to GasBuddy. With the dip, the average price of a tank of gas in Boise was $3.14 per gallon, as of Monday. 

GasBuddy's survey of 216 stations found the average price in Boise is nearly 31 cents per gallon less than one month ago, and nearly 26 cents less per gallon than a year ago. 

In GasBuddy's price report, the cheapest station in Boise was priced at $2.93 per gallon on Sunday and the most expensive was $3.49 per gallon, a difference of 56 cents. 

Nationally, the price of gasoline has dropped 3.8 cents per gallon in the last week, marking an average of $3.03 per gallon, which is 12 cents less than a month ago, and 22 cents less than a year ago. 

The national average price of diesel fuel fell 5.6 cents in the last week, marking a new average price of $3.90 per gallon. 

According to AAA, Idaho sits at 16th in the nation for most expensive gasoline, at $3.12 per gallon across the state. Montana and Utah, where Idaho receives most of the gasoline products from, currently rank 24th and 31st respectively in the nation for most expensive fuel. 

"Sluggish gasoline demand has led to the national average easing again and brings back the potential for the national average to drift under $3 per gallon for the first time since 2021," said Patrick De Haan, head of petroleum analysis at GasBuddy.

"With a record rise in gasoline inventories last week as demand was anemic during the holidays, motorists have provided the catalyst for falling prices. If demand remains weak, gasoline prices could fall further. In addition, refinery issues in California have also eased, which will soon cause prices to decline in California, Nevada and Arizona, providing momentum for a possible run at a $2.99 national average. However, the better it gets now, the more bumpy and sharp the rise could be ahead of the spring, as prices could start their rise of 35-85 cents per gallon around mid-February," De Haan continued.

AAA also stated that according to the Energy Information Administration, demand for gasoline was at 9.2 million barrels per day before Christmas. As of early January, demand dropped to less than 8 million barrels per day.  

Here's a look at historical gas prices in Boise going back 10 years according to GasBuddy: 

  • January 8, 2023: $3.40/g
  • January 8, 2022: $3.63/g 
  • January 8, 2021: $2.18/g
  • January 8, 2020: $2.55/g 
  • January 8, 2019: $2.38/g 
  • January 8, 2018: $2.51/g 
  • January 8, 2017: $2.27/g 
  • January 8, 2016: $2.13/g 
  • January 8, 2015: $1.93/g 
  • January 8, 2014: $3.21/g

Neighboring areas and their current gas prices:
Ogden- $2.73/g, down roughly 3 cents per gallon from last week
Oregon- $3.68/g, down roughly 8 cents per gallon from last week

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