Average gas prices fall slightly in Idaho

Average retail gasoline prices in Idaho have fallen 1.5 cents per gallon in the past week, averaging $2.53 per gallon Sunday, according to a gasoline prie website’s daily survey of 802 gas outlets in Idaho.

This compares with the national average that has fallen 3.3 cents per gallon in the last week to $2.41 per gallon, according to gasoline price website GasBuddy.com. Including the change in gas prices in Idaho during the past week, prices yesterday were 31.7 cents per gallon higher than the same day one year ago and are 5.4 cents per gallon lower than a month ago. The national average has decreased 12.9 cents per gallon during the last month and stands 17.3 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on December 18 in Idaho have ranged widely over the last five years: $2.22 per gallon in 2016, $2.13 per gallon in 2015, $2.49 per gallon in 2014, $3.10 per gallon in 2013 and $3.24 per gallon in 2012.

“As we approach Christmas, average gas prices in the U.S. have fallen to their lowest point in 110 days, just as Hurricane Harvey began causing prices to spike, not exactly the Christmas gift some hoped for, but it’s about time nonetheless,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “As long as demand for gasoline continues to weaken, gasoline inventories will continue growing and it’ll be the gift that keeps on giving. In addition, the gap between prices today and a year ago is also at its narrowest in months, highlighting that prices are moving in the right direction for many. As we look towards our annual Fuel Outlook being released just after the New Year, there are some bright spots along with some concerns that lay ahead for 2018.”

Information: FuelInsights.GasBuddy.com