Idaho gas prices defied the national trend this week, dropping two cents while the U.S. average went up by two cents. But according to the American Automobile Association, the fallout from a busy hurricane season continues to torment drivers at the pump, and there could be rough days ahead.
As expected, fuel demand fell after Labor Day, and currently sits at 8.9 million barrels per day – the lowest level since just before Memorial Day and the start of the summer driving season. But Hurricanes Ida and Nicholas forced the precautionary closure of oil rigs and refineries in the Gulf of Mexico, where approximately 23 percent of offshore crude oil production remains offline.
Matthew Conde with AAA-Idaho says production is slowly ramping up, but right now, crude oil stocks are at their lowest level since 2017, when Hurricane Harvey wreaked havoc in the Gulf. He added that tight supplies are driving up the price of crude oil, and the national average price for gasoline is now at a seven-year high.
Today, Idaho’s average price for regular is $3.77, which is four cents less than a month ago and $1.32 more than a year ago. Meanwhile, the U.S. average is $3.20, which is three cents more than a month ago and $1.02 more than a year ago.
Boise motorists are paying the highest average price for a gallon of gas in Idaho at $3.88. Coeur d’Alene has the lowest price at $3.43. Lewiston’s average price is currently $3.48. (American Automobile Association)
