The following is a press release from AAA Idaho.
BOISE – Idaho drivers enjoyed another week of savings at the pump, but AAA warns current trends are likely the calm before the storm.
Today’s average price for a gallon of regular in the Jewel State is $3.65, down two cents from a week ago, but a nickel from more than a month ago. Meanwhile, the national average currently stands at $3.41 per gallon, up four cents from a week ago, but down six cents from a month ago.
Idaho dropped from 9th to 10th place for most expensive fuel this week, behind California ($4.90), Hawaii ($4.83), Nevada ($4.32), Washington ($4.24) , Colorado ($3.99), Oregon ($3.90), Alaska ($3.80), Utah ($3.72), and Arizona ($3.68). Only three states are below the $3 mark today: Mississippi ($2.95), Texas ($2.97) and Missouri ($2.99).
“Refineries are making the switch to summer-blend fuel, and because it contains more additives to prevent evaporation at higher temperatures, it costs more to make, about 5 to 10 cents per gallon of gasoline,” says AAA Idaho Public Assurances director Matthew Conde. “As travel demand begins to pick up for spring break in a few weeks, that could also lead to higher fuel prices.”
According to the Energy Information Administration, gasoline inventories fell by 1 million barrels this week, but crude oil inventories rose by about the same amount. And refineries in the Rockies region have increased their production rate to 84% after plummeting to 60% following the ongoing fire and shutdown at Suncor’s facility in Colorado.
“We’re crossing our fingers that things on the supply side remain stable, with the understanding that demand will pick up in the near future,” Conde said. “Any savings we can pocket now will make these spring and summer trips more affordable.”
The benchmark West Texas Intermediate for crude oil is currently trading near $80 a barrel, up $4 from a week ago and up $6 from a month ago. If the market believes that demand for fuel will increase, the cost of crude oil could increase and, in turn, increase pump prices.
AAA reminds drivers that fuel rated as “premium” has a higher level of detergents and additives to clean and protect engine systems, which can help prevent costly vehicle repairs in the future. However, it is also more expensive than gas products that do not meet this standard.
Previous AAA research shows that using a higher grade of fuel than required by the manufacturer does not significantly improve performance, so it is not necessary to give your car a “request”.
Here’s a look at Idaho gas prices as of March 6:
Boise – $3.79
Coeur d’Alene – $3.33
Franklin – $3.70
Idaho Falls – $3.46
Lewiston – $3.46
Pocatello – $3.68
Rexburg: $3.57
Twin Falls – $3.77
