BOISE, Idaho — Idaho gasoline prices have dipped slightly following a drop in gasoline demand and crude oil costs, just in time for spring break.
According to AAA, last week the price of crude oil briefly dropped below $95 per barrel but is now trading near $110 per barrel this week. If this pattern of higher crude prices continues, pump prices will most likely follow the trend.
The average price for regular gas in Idaho is currently at $4.35 per gallon, which is a penny less than a week ago and 83 cents more than a month ago.
The national average of gas is currently sitting at $4.25, which is eight cents less than a week ago and 72 cents more than a month ago.
"Fuel demand fell this week as higher gas prices likely motivated some of the folks who were on the fence about taking a road trip to change course," AAA Idaho public affairs director, Matthew Conde, said, "But according to our booking data, flights, tours, car rentals and hotels are trending above pre-pandemic levels for March, April, and May in places like Florida, Mexico, and Hawaii. Those who made arrangements before prices spiked will likely follow through on them."
According to recent AAA research, half of U.S. adults feel that gas priced at $3 or more per gallon is "too high", which is consistent with previous studies. When gas prices hit the $4 mark, however, 59% of Americans say they will adjust their lifestyle choices. At $5, that number climbs to 75%.
While many Americans are adjusting their daily activities to offset the rising costs, they're still likely to travel this summer. AAA's survey found that 52% plan to take a vacation, with 42% of that group saying regardless of gas prices, they will not consider changing their travel plans.
Top warm-weather destinations this spring include:
- Orlando, FL
- Cancun, Mexico
- Honolulu, HI
- Las Vegas, NV
- Kahului, Maui, HI
- Phoenix, AZ
- Tampa, FL
- Ft. Lauderdale, FL
- Miami, FL
- Montego Bay, Jamaica
AAA is urging vacationers to purchase travel insurance to protect their investment and select a plan that specifically covers interruptions due to COVID-19. Vacationers should also pack masks, hand sanitizer, disinfecting wipes, and disposable gloves in case it is needed along the journey.
"Crude prices soared after the Russian invasion of Ukraine, then teeter-tottered under market speculation surrounding increased production by other countries and new lockdowns in China amid rising infection rates," Conde said, "the volatility is going to come fast and from a variety of directions for the foreseeable future, including the aftermath of Europe's decision as to whether or not it will join the United States in boycotting Russian energy supplies."
Idaho gas prices as of 3/21/22:
- Boise - $4.44
- Coeur d'Alene - $4.10
- Franklin - $4.30
- Idaho Falls - $4.25
- Lewiston - $4.11
- Pocatello - $4.33
- Twin Falls - $4.44
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