Idaho gas prices have started to drop, AAA Idaho reports, with the average for regular unleaded currently at $3.18, two cents less than a week ago. That’s still seven cents more than a month ago, but a penny less than Idaho’s average at the same time last year. We’re considerably above the national average of $2.80.
Matthew Conde, AAA Idaho public affairs director, said, “At the beginning of the year, crude oil traded for $45 a barrel, and the price eventually reached $66 in late April.” Since then, he said, “Strong domestic oil production and concerns about a global oversupply have caused prices to slip nearly $10 over the past few weeks; they’re currently around $54 a barrel.
In addition, refineries in the region are back in full action after maintenance-related shutdowns, hitting 96 percent utilization last week, Conde said in a news release. During the run-up, Idaho’s average gas price per gallon hit a high of $3.20 on May 15 and stayed there through Memorial Day.
AAA is predicting that Idaho's gas prices will continue to fall to the $3.12 range in the coming weeks, as the national average is projected to drop to $2.70.