Idaho gas prices hitting wallets as costs move above $3 per gallon

Drivers in Idaho might want to take advantage of still relatively low gas prices before they get any higher.

Costs are already trending above $3 per gallon in many places around the state, mainly due to the war in Iran creating a shortage of crude oil.

Though prices have increased since the beginning of the Middle East conflict this past weekend, some areas around the state still have prices below $3 per gallon as of March 4.

“On one hand, the crude oil market had time to account for some financial risk in the Middle East as forces mobilized, but a supply shortage somewhere affects the global picture,” said Matthew Conde, director of AAA Idaho public affairs.  “If tankers can’t move products through the region, there could be ripple effects.”

Conde’s organization pointed out that while the U.S. does not import oil from Iran, China and India do.

AAA reported that the average cost for a gallon of gas in Idaho as of March 2 was $2.97, 12 cents more than a month ago and 20 cents cheaper than a year ago. The national average hovers around $2.99 per gallon.

As of Wednesday, according to GasBuddy.com, the least expensive gas in Idaho was found at the Sinclair station on Ellis Street in Paul at $2.61 per gallon. At the Texaco on 17th Street in Ammon, the price was $2.63 per gallon, and Cloningers in Weippe on Main Street was $2.69.

Throughout Idaho Falls, GasBuddy reported several stations at $2.74 a gallon on Wednesday. Walmart in Nampa was at $2.77 per gallon.

According to AAA Idaho, the Gem State ranked 14th in the nation for most expensive gas. Washington state averaged $4.37 per gallon, Oregon was at $3.92, Nevada was at $3.70. Colorado, Montana, Utah and Wyoming were all averaging cheaper prices than Idaho.

In California, the cheapest reported price was at a Mobil station in Orange in the southern part of the state at $3.65 per gallon.

AAA Idaho stated that the West Texas Intermediate benchmark for crude oil was trading at $71 on Monday, but that price was back up to $74 on Wednesday, what it had surged to over the weekend. The organization stated that “higher crude oil prices could apply upward pressure on gas prices in the coming days and weeks.”

“We’ll also start seeing refineries producing the more-expensive summer-blend fuel in the coming weeks,” Conde said.  “However way you slice it, higher pump prices are likely on the horizon.”