BOISE, Idaho — Amid growing fuel demand, the average cost of gasoline in Boise has risen by two cents per gallon in the last week, averaging at $4.50 a gallon.
According to GasBuddy's survey, which looked at 216 gas stations in Boise, gas prices are eight cents lower than a month ago, but $1.22 higher than a year ago.
In the last week, the price of diesel also rose 22.6 cents nationally, standing at $5.52 per gallon.
"Gasoline and diesel prices alike saw strong upward momentum last week as oil prices continued to climb after the EU signaled its desire to sanction Russian oil." Patrick De Haan, head of petroleum analysis at GasBuddy, said. "In addition, U.S. petroleum inventories saw yet another weekly decline as we near the start of summer driving season."
The cheapest station in Boise according to the GasBuddy report was priced at $4.39 per gallon yesterday, while the most expensive was $4.99 per gallon; a difference of 60 cents per gallon.
The lowest price in the state yesterday was $4.19 per gallon, while the highest was $5.20 per gallon, a difference of about $1.01 per gallon.
"Ten states and the District of Columbia are already over the $4.50 mark today, and Utah, the supplier for most of our gasoline products, is right on the verge. It doesn't bode well for Idaho drivers," AAA Idaho public affairs director, Matthew Conde said. "With Memorial Day and a busy travel season ahead, fuel demand is likely to push pump prices even higher in the coming weeks."
Nationally, the average price of gasoline has risen by 13.6 cents per gallon in the last week, with today's average being $4.31 per gallon. The national average is up 19.6 cents per gallon from a month ago, and $1.36 higher than what it was a year ago, according to data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
"Not only are diesel prices at a record high, they are at their largest differential to gasoline on record, surpassing the 98-cent difference in 2008 and currently standing at a $1.20 per gallon premium," De Haan said. "While motorists filling with gasoline have seen a slight rise in prices, diesel's surge will be a double whammy as diesel prices will soon be passed along to retail channels, further pushing up the cost of goods."
Neighboring areas and their current gas prices:
Idaho - $4.46/g, up 4.3 cents per gallon from last week's $4.41/g.
Utah - $4.46/g, up 2.1 cents per gallon from last week's $4.44/g.
Oregon - $4.77/g, up 9.5 cents per gallon from last week's $4.67/g.
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