Gas prices are up in Utah and Idaho for more than the usual traditional Fourth of July price hike.
Gas prices in the two states were affected by a March 12 fire at the HollyFrontier refinery in Woods Cross, Utah, according to a note written by Robert Spendlove, economic and public policy officer for Zions Bank. “While no one was injured, the damage was bad enough to take almost a third of its production offline for an extended period of time,” he wrote. “This lack of local production has led to higher gas prices in areas such as Utah and Idaho that rely on Wasatch Front refineries for much of their gas.
“Until HolyFrontier’s production capability gets back to normal, expect Intermountain states to keep some of the highest gas prices in the nation.”
At the same time, prices have been going up nationally due to concerns about President Donald Trump’s actions around Iran. “His ultimate announcement of withdrawal from the Iran deal and potential freezing of Iranian oil exports in early May helped cement the rise,” Spendlove wrote.
According to AAA Idaho, the U.S. average gas price is $2.85, 11 cents less than a month ago and 61 cents more than a year ago. In Idaho, the current price is $3.18, the same as a month ago and 59 cents more than a year ago. Idaho gas prices range from $3.10 in Hayden to $3.57 in Stanley, AAA said.