Are gas prices topping off in Idaho?

Gas prices in Idaho have been creeping up in recent months but have paused in the last week.

According to AAA Idaho, the price for a gallon of gas is averaging $3.48 in the state which is the same as last week, up six cents from a month ago, but nine cents less than a year ago.

“Anecdotally, travel continues to be very robust, but crude oil prices have remained below the $70 mark, providing some relief on the supply side,” said Matthew Conde, AAA Idaho public affairs director. “Oil and gas prices could teeter-totter as families race to complete their summer travel or swing dramatically if there’s a refinery issue, but thankfully, all is calm for the moment.”

The average price for a gallon of gas nationwide sits at $3.14 a gallon, down one cent from last week, five cents less than last month and 36 cents less than last year.

Around Idaho, the cheapest prices for a gallon of gas as of July 30, according to GasBuddy, were in Lewiston, Idaho Falls, Coeur d’Alene and Post Falls, where prices were $3.15, $3.17 and $3.19, respectively.

Comparatively, the cheapest gas at the same time in neighboring states was $3.25 in Clarkston, Washington, $3.25 in Bend, Oregon, $2.86 in Plentywood, Montana, $3.39 in Colusa, California, $2.89 in Las Vegas, Nevada, $2.88 in Ogden, Utah, and $2.52 in Casper, Wyoming.

AAA Idaho stated that the West Texas Intermediate benchmark for crude oil was trading near $69 per barrel as of July 29, which is around $9 less than a year ago.

“According to the most recent report by the Energy Information Administration, gasoline demand approached 9 million barrels per day, about 500,000 barrels per day more than the previous week,” AAA Idaho reported.  “Fortunately, refineries also increased production, which helped offset the demand.”