Gas prices in Boise and Idaho do a summertime climb. Here’s why, and what to expect.
Idaho gas prices hit a recent milestone, and it’s not a good one.
The Gem State’s average price for regular unleaded surpassed $3.50 per gallon earlier this week, a mark not seen since October 2014, according to AAA Idaho. The national average stands at $3.13 per gallon, about 40 cents less than Idaho’s prices. The state has the eighth-highest gas prices in the nation.
Idaho’s gas prices grew by 10 cents per gallon last week alone, the largest increase in the country, according to AAA. Prices are up 22 cents from the previous month.
In Boise, the average cost of fuel in the city was $3.56 per gallon as of Tuesday, according to GasBuddy, a website that measures prices around the country.
A summertime surge in gas prices is not unusual, but complicating matters in 2021 is a combination of rising prices for crude oil and a large increase in demand, as drivers get back on the road after a year of declining travel because of the COVID-19 pandemic, AAA Idaho spokesperson Mattnew Conde said.
Conde told the Idaho Statesman in a phone interview Thursday that there were around 43.5 million Americans who hit the road during the Fourth of July weekend and traveled more than 50 miles. That number was 40% higher than the previous year, when people were more likely to stay home at the heart of the pandemic.
“The floodgates have kind of opened up here,” Conde said.
Prices over the July 4 weekend averaged $3.44 per gallon in Idaho, way up from the same weekend in 2020, when they were only $2.35.
AAA projects that gas prices could continue to climb this summer, increasing another 10-20 cents through the end of August.
Crude oil prices have continued to increase this year, surging about 45% in the first six months of 2021, which always affects drivers at the pump. Prices hit $75 per barrel during the holiday weekend, but as of Thursday afternoon, they had dropped slightly, to around $73.
OPEC recently failed to negotiate a production increase among member companies, which has caused further issues in crude prices.
“We normally expect robust demand to push gas prices higher this time of year, especially after the travel restrictions that were put in place during the pandemic, but the high price of crude oil has poured some salt in the wounds,” Conde said in a AAA Idaho news release Tuesday.
This story was originally published July 8, 2021 at 3:14 PM.
