Idaho gas prices hit reverse

Envato Elements Stock image The following is a news release from AAA Idaho. BOISE – While Idaho drivers anticipated gas prices would continue to drop after Labor Day, regional supply chain issues have pushed prices in the opposite direction. According to AAA, Monday’s average price for a gallon of regular in the Gem State is $3.51, which is about five cents more than a week ago, but still a penny less than a month ago and seven cents less than a year ago. The national average currently sits at $3.18 per gallon, about two cents less than a week ago, two cents more than a month ago, and three cents less than a year ago. “Oregon receives about 90% of its fuel supply from Washington refineries, and an unplanned shutdown of the Olympic Pipeline tightened supplies across the Portland metro area. Washington and Oregon’s state averages jumped 20 cents in a week,” says AAA Idaho public affairs director Matthew Conde. “Idaho suffered the unfortunate consequences of being a neighbor to all of the chaos, but the pipeline is now operational, and price relief could come soon.” As a result of recent pipeline and refinery issues, Washington is now ranked No. 1 in the country for the most expensive gasoline at $4.66 per gallon – Oregon’s in 4th place. Idaho remains in 8th place. “The upcoming switch to winter-blend fuel, which is cheaper to make than summer-blend, may bring additional savings in the coming weeks,” Conde said. “Hopefully, cheaper supply and lower demand will drive down pump prices and help people save up for the holiday season.” The West Texas Intermediate benchmark for crude oil is currently trading near $63 per barrel, which is $1.50 per barrel more than a week ago and $1 more than a month ago. If the cost of crude remains well below the $70 mark or even falls below $60, the price of gasoline could follow suit. “Economics are fragile, and we’re only a crisis away from sweeping changes, whether it’s caused by a geopolitical issue or a natural disaster. So far, it’s been a quiet hurricane season, but we’re heading into the peak time for a major storm to make landfall in the U.S.,” Conde said. “Fingers crossed that everything stays calm – for the market, no news is usually good news.” AAA reminds drivers to follow octane recommendations from the vehicle manufacturer. Previous AAA research found that purchasing a more-expensive octane as a “treat” for your car does not significantly improve fuel economy or engine performance. Here’s a look at Idaho gas prices, as of Sept. 15: Boise – $3.54 Coeur d’Alene – $3.56 (a 15-cent jump from a week ago) Franklin – $3.28 Idaho Falls – $3.34 Lewiston – $3.54 (a 13-cent jump from a week ago) Pocatello – $3.38 Rexburg – $3.38 Twin Falls – $3.44The post Idaho gas prices hit reverse appeared first on East Idaho News.
Source: eastidahonews.com