What's Driving Idaho's Gas Prices Higher Than The Rest Of The Nation

Idaho gas prices have fallen; have you noticed? The big move is that we’re a few cents away from $5 a gallon, but Idahoans still feel the pain. The good news? Gas prices are down to $4.80 a gallon, nine cents lower than last week and five cents lower than last month.

a row of gas pumps filled with gas — Photo by engin akyurt on Unsplash

How Much Did We Pay For Gas Last Year at This Time?

However, our prices are still $1.36 higher than last year. What about the nation? The nation’s average price per gallon is around $4.29, making the Gem State well above the national average once again.

a close up of an old gas pump — Photo by Vincent Botta on Unsplash

Is The Worst Behind Us? Are Lower Prices on the way?

“You see the falling prices and your first thought may be that the worst is behind us. Unfortunately, crude oil volatility is still a concern,” says AAA Idaho public affairs director Matthew Conde. “The West Texas Intermediate benchmark for crude oil is now trading near $102 per barrel, which may put additional strain on everything from jet fuel to gasoline to delivery charges.”

The War and Midterms

Two factors continue to impact our pain at the pump. President Trump made a controversial move by reaching out to Russian strongman Vladimir Putin. The president lifted sanctions on Russian Diesel and bought a bunch of it.

The president wants the Russia/Ukraine war to end, which would begin the decline of high gas prices. The president also announced he won’t attack Iran till after the midterms. A deal or surrender would boost the economy, as expected fuel prices would raise market confidence.