"Gasoline prices continued their upward trajectory last week as oil prices pulled them higher across the majority of the country, and continued refinery challenges kept supply of gasoline from rising more substantially," said Patrick De Haan, head of petroleum analysis at GasBuddy.
The price of gas in Boise is 12.9 cents less per gallon than a month ago, and is down 17.6 cents compared to a year ago. Nationally, the price of diesel has also been rising, standing at $4.60 per gallon; a rise of about 2.6 cents from the previous week.
The cheapest station in Boise was charging $3.25 per gallon of regular unleaded, while the most expensive was $3.59 per gallon, according to GasBuddy. Throughout the state, the lowest listed price was $2.99 per gallon and the highest was $3.69 per gallon, a difference of 70.0 cents per gallon.
Nationally, the average price of gas has increased by 11.3 cents per gallon, averaging $3.39 per gallon. The national average is up by 30.2 cents per gallon from a month ago, and 7.3 cents per gallon higher than a year ago, according to GasBuddy data.
Neighboring areas and their current average gas prices:
- Utah - $3.24/g, down 2.9 cents per gallon from last week's $3.27/g
- Oregon - $3.64/g, down 1.5 cents per gallon from last week's $3.65/g
"Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn't been slowed much by a surge in new Covid cases," De Haan said. "In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn't look good for motorists, with prices likely to continue accelerating."
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