With a record 119 million Americans traveling for the holidays, gas prices in Idaho and across the nation are climbing again.
According to the American Automobile Association, today’s average price for a gallon of regular in Idaho is $3.06, which is six cents more than a week ago, but nine cents less than a month ago and 24 cents less than a year ago. The national average currently sits at $3.05 per gallon, which is about two cents more than a week ago, two cents less than a month ago and five cents less than a year ago. Today, Idaho ranks 16th in the country for most expensive fuel.
According to the Energy Information Administration, U.S. refineries are producing at 91.8% of capacity, down slightly from last week. Meanwhile, refineries in the Rockies are producing at 86.8% of capacity, a nearly 5% drop from a week ago. That, combined with higher demand associated with holiday travel are the biggest contributors to the higher prices for fuel.
The West Texas Intermediate benchmark for crude oil is currently trading near $69 per barrel, which is $2 less than a week ago, the same as a month ago, and $5 less than a year ago. Stable crude oil prices contribute to calmer pump prices.
