Idaho – In an unusual event, Idaho’s average gas price is now below the national average of $3.42 per gallon. As of Monday, January 23, 2023, the average price per gallon of fuel in Gem State is $3.39, according to AAA. This is the first time since February 2022 that Idaho pump prices have fallen below the national average. Last year, the effects lasted for about a month.
Last week, the national average price for a gallon of regular fuel rose 12 cents from $3.30 to $3.42. Last month alone, the national average rose 33 cents. Meanwhile, gas prices in Idaho were up 1.5 cents from last week.
Gas prices throughout Idaho as of Monday, January 23, 2023 are as follows:
- Boise – $3.43
- Coeur d’Alene – $3.23
- Franklin – $3.26
- Idaho Falls – $3.28
- Lewiston – $3.48
- Pocatello – $3.34
- Rexburg – $3.42
- Twin Falls – $3.40
As of Monday, Idaho ranked 21st in the nation for the most expensive fuel.
“So far Idaho is swimming against the current, but it may not hold out much longer. “Strong forces could drive us to higher prices happening elsewhere. Crude oil continues to be very expensive, fuel demand is increasing, and Colorado refinery closures are likely to continue. We are tightening regional supply. All of these factors have pushed pump prices higher this week.”
Today, the West Texas Intermediate Benchmark for crude oil is trading close to $82 a barrel.
Gasoline demand rose from 7.5 million to 8 million barrels per day last week, according to the Energy Information Administration (EIA). If demand remains strong, pump prices are likely to rise.
“If the market continues to feel this kind of pressure, gas prices could continue to rise.” Conde said. “On the other hand, however, another cold wave could moderate demand or cause oil prices to change direction.
