Gas prices dip slightly in region

SANDPOINT — The average price for a gallon of regular gasoline in the Gem State was $4.05 on Monday, which was 9 cents less than a week ago and 11 cents less than a month ago, according to AAA.

The Gem State ranks eighth in the U.S. for most expensive fuel, AAA officials said Monday. Meanwhile, the national average sits at $3.70 per gallon, which is 11 cents less than a week ago and 12 cents less than a month ago.

In Bonner County, the price for an unleaded gallon of gas ranged from $4.08 to $4.35 on Monday. Coeur d'Alene gas prices were around $4 a gallon, with some stations in the $3.90 range bit others still around $4.10.

“Hopefully, this is the signal that the floodgates are about to open and real savings will start pouring in,” said Matthew Conde, AAA spokesman. “We could see the state average drop below the $4 mark in a matter of days, and in some parts of Idaho that’s already the case.”

The Gem State ranks behind California ($5.80), Washington ($5.02), Nevada ($4.92), Hawaii ($4.84), Oregon ($4.65), Alaska ($4.60), and Arizona ($4.50).

At the end of last week, the cost of crude oil dipped to $82 per barrel, partly in response to a significant drop in gasoline demand and a build in fuel inventories. But the West Texas Intermediate benchmark is back above $86 per barrel today, and AAA says that both crude and gasoline prices could be shaky over the next few weeks.

“As weather and market conditions go, so go the gas prices that we’ll pay in the run-up to Thanksgiving. But overall, we anticipate a downward trend," Conde said.

Idaho gas prices as Monday were: Boise, $4.07; Franklin, $4.19; Idaho Falls, $3.95 and Twin Falls, $3.99.