Area gas prices continue to drop

SANDPOINT — Idaho gas prices defied the national trend, dropping by an average of 8 cents while the U.S. average inched higher by 3 cents, according to AAA.

Idaho’s average price for a gallon of regular was $2.89 on Monday, which is 31 cents less than a month ago and 56 cents less than a year ago. Meanwhile, the national average sits at $3.11, which is a penny less than a month ago and 40 cents cheaper than a year ago.

The Gem State, which often ranks between seventh and ninth place in the country for most expensive fuel, ranks 29th. In an unusual twist, Wyoming and Utah are leading the way with the cheapest fuel in the nation at $2.63 and $2.64 per gallon, respectively.

In Bonner County, the average price for a gallon of unleaded gasoline is $3.18 while in Boundary County, the average price is $3.04. Prices in the Coeur d'Alene area are around $3.05 to $3.10.

“Steady refinery production and the recent freeze have boosted supplies in our region in recent weeks, which may be helping drive prices down,” said AAA Idaho public affairs director Matthew Conde. “It’s too early to worry about the slight uptick in the national average, but if it continues, we’ll only be able to hold out for so long before our prices start changing course.”

The West Texas Intermediate benchmark for crude oil is currently trading near $77 per barrel, which is $2 more than a week ago and $5 more than a month ago, but $1 less than a year ago. If crude oil costs, which make up more than half of the price of finished gasoline, remain high, they could apply upward pressure on fuel prices in the coming days and weeks.

“Prices are pretty good right now, but there’s no harm in bundling trips and avoiding peak traffic to stretch your hard-earned dollar even further,” Conde said. “We could be just weeks away from a very different story at the pump.”

Some Idaho gas prices as of Monday: Boise, $2.96; Franklin, $2.59; Idaho Falls, $2.41; and Lewiston, $3.22.