Gas prices decline in area

SANDPOINT – The prices on reader board at area gas stations this week are ones that haven't been seen for a while was one not seen in some time - all were under the $4 a gallon mark.

They may have been the lowest in the region, but it was a big improvement from a month ago.

According to AAA, Idaho’s average price for regular is $3.94 per gallon, which is 17 cents less than a week ago and 36 cents less than a month ago.

However, current prices are still 28 cents more than a year ago.

Prices in Bonner County range from $3.69 in Oldtown to $3.86 in the Sandpoint/Ponderay area.

Meanwhile, the national average sits at $3.40 per gallon, which is 14 cents less than a week ago and 40 cents less than a month ago, but just a nickel more than a year ago.

Idaho ranks seventh in the U.S. for most expensive fuel behind Hawaii ($5.18), California ($4.77), Nevada ($4.48), Washington ($4.32), Oregon ($4.21), and Alaska ($4.13).

Falling fuel demand has helped tamp down gas prices, despite the continued high cost of crude oil.

“It’s encouraging that Utah, where most of Idaho’s gasoline supply is refined, is seeing an average price of $3.79 per gallon today,” said AAA Idaho public affairs director Matthew Conde. “Hopefully, the trend will continue, and Gem State prices will be even better in the run-up to the holidays.”

But that could change.

Conde said OPEC recently announced that it will follow through on an agreement to cut crude production by two million barrels per day, and Russia has also threatened to withhold oil from any nation that attempts to cap its prices. While supply issues or a surge in holiday fuel demand could send pump prices higher, we’re keeping our fingers crossed that more savings are on the way.”

Some Idaho gas prices as of Monday: Boise - $3.99; Franklin, $3.86; Idaho Falls, $3.92; Lewiston, $4.30 and Twin Falls, $3.99