Friday, July 19, 2024

Gas prices remain calm in region

| July 10, 2024 1:00 AM

SANDPOINT — Idaho gas prices remain calm, despite a record number of travelers for the Fourth of July holiday.

According to AAA, the average price for a gallon of regular in the Gem State is $3.59, which is just a fraction of a penny more than a week ago, but 5 cents less than a month ago and 35 cents cheaper than a year ago.

Meanwhile, the national average sits at $3.51 per gallon, which is about 2 cents more than a week ago and 5 cents more than a month ago, but 3 cents less than a year ago.

In Bonner County, the average price of a gallon of unleaded gasoline is $3.66 while in Boundary County, the prices for a gallon of unleaded is $3.52.3. In Kootenai County, gas prices range from the $3.30s to the $3.50s, and in Shoshone County, the price averages $3.80.7

Idaho spent another week out of the top 10, ranking 12th in the country for most expensive fuel.

“We’re fortunate that gas prices have been fairly stable despite the record number of travelers that hit the road last week,” said AAA Idaho public affairs director Matthew Conde. “With crude oil prices on the rise, and many vacations yet to be completed, there could be some turbulence on the horizon. But, of course, we’re keeping our fingers crossed for another quiet week at the pump.”

The West Texas Intermediate benchmark for crude oil is currently trading near $83 per barrel, which is about $7 more than a month ago and $9 more than a year ago. If crude oil prices continue to climb, gas prices are likely to follow.

Beryl was downgraded to a tropical storm earlier Monday, with intense rains and gusts of wind pummeling the Houston metro area. If a major refinery experiences downtime due to the weather event, it could impact regional supplies. However, gasoline demand may also be reduced, and it is too early to predict how these factors may offset.

As a special note this week, AAA encourages Idahoans to remain vigilant during extremely hot temperatures. Note the location of cooling shelters, check in with friends and loved ones (including the elderly) and stay hydrated. Never leave children or pets in cars, where interiors can quickly reach fatal temperatures.

Elsewhere in Idaho, gas prices Monday were: Boise, $3.59; Franklin, $3.52; Idaho Falls, $3.47; Lewiston, $3.60; and Twin Falls, $3.58.