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Gas prices surge in Idaho as demand reaches record high

The following is a news release from AAA Idaho.
BOISE — Road trip season is off and running, taking gas prices along for the ride.
According to AAA, today’s price to fill up in Idaho is $3.58, which is nine cents more than a week ago and 30 cents more than a month ago. Meanwhile, the national average currently sits at $3.15, which is two cents more than a week ago and seven cents more than a month ago.
AAA reports that gasoline demand across the country recently topped 10 million barrels per day for the first time on record. According to the Energy Information Administration, the nearly one million barrel-per-day jump from the previous week dropped gasoline supplies by nearly six million barrels.
In response, gas and crude oil prices continued their upward trajectory.
“‘Turbulent’ isn’t a big enough word to describe what’s happening at the pumps these days,” says AAA Idaho public affairs director Matthew Conde. “It’s clear that surging gas prices aren’t going to let up anytime soon, particularly in the Western states.”
With a nine-cent increase, Idaho drivers saw the 4th -largest jump at the pumps this week. Utah, which supplies most of the Gem State’s fuel, led the way with an 11-cent increase.
On the week, nearly 25 state averages were up by at least two cents per gallon. Prices range from $2.76 per gallon in Mississippi to $4.31 per gallon in California.
At the close of Friday’s formal trading session, the West Texas Intermediate price of crude oil increased by $1.62 to nearly $75 per barrel. Members of the Organization of the Petroleum Exporting Countries (OPEC) continue to disagree over proposed production increases, putting further pressure on crude oil prices and, in turn, gas prices.
Here’s a selection of Idaho gas prices as of July 12:

Boise – $3.67
Coeur d’Alene – $3.39
Franklin – $3.65
Idaho Falls – $3.49
Lewiston – $3.42
Pocatello – $3.54
Twin Falls – $3.67

The post Gas prices surge in Idaho as demand reaches record high appeared first on East Idaho News.
Source: eastidahonews.com

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