Are gas lines reminiscent of the 1970s headed to Boise? Here’s what happened Friday
In just a week, the price of gas has surged 75 cents per gallon at Boise’s cheapest station, fueled by Russia’s invasion of Ukraine.
What’s that mean for area motorists? That the lines at Costco’s gasoline islands have gotten longer, running at least six deep on Friday.
The price of a gallon of regular unleaded at the Costco at 2051 S. Cole was $4.25 on Friday. Seven days earlier, it was $3.50.
Prices throughout Boise ranged from $4.25 to $4.59 per gallon heading into the weekend, according to GasBuddy. The average price in Idaho on Friday was a record $4.34 a gallon, according to AAA Idaho. A year ago, gas prices averaged $2.67 a gallon in Idaho and $2.75 nationally.
Some parts of Idaho still had gas for less than $4 a gallon Friday. A Chevron station in Coeur d’Alene had regular unleaded for $3.87, 10 cents less than the city’s Costco. A Chevron station in Pocatello and a Phillips 66 station in Aberdeen, north of American Falls, had it for $3.89.
Boise resident Betty Davidson recalled that several years ago, there was a run on gas. After she waited in line at the Boise Costco for more than 30 minutes, the station ran out of regular unleaded. She said she doesn’t plan on waiting that long again.
“I live in southeast Boise and I am not driving all the way to the Costco on Cole Road to buy gas and save a few pennies which would probably be eaten up by my vehicle using more gas as I would sit idle, then move a few feet, then idle again,” Davidson wrote in response to a post on the Idaho Statesman’s Facebook page.
Emmett resident Lynne Rose said she went to the Meridian Costco on Friday and filled her car without any wait. It was the same for Eagle resident Jose Vasquez.
“I only waited two minutes,” Vasquez wrote.
This week, Idaho gas prices hit $4 a gallon for the first time since 2008. In just one week, Boise prices have jumped from an average of $3.61 to $4.41, according to AAA Idaho. That’s a record. Until Tuesday, Boise’s highest average gas price was $4.12, set on July 15, 2008.
Statewide, the average was a record $4.34 on Friday.
Boise resident John Traub said the savings aren’t that great filling an average-sized tank of 14 gallons or so.
“I haven’t experienced any long lines,” he wrote on the Statesman’s Facebook page. “It just depends on how long you want to wait to save 3 bucks.”
The main cause of the price increase is the war in Ukraine brought by Russia’s invasion. Prices could climb even higher as more countries ban imports of Russian oil. President Joe Biden on Tuesday banned U.S. imports of Russian oil and natural gas, while Britain said it would phase out imports by the end of the year.
Those bans have increased the pressure on members of the European Union to follow suit. That continent’s dependence on Russian oil makes an immediate embargo more difficult, The Associated Press reported.
Europe gets around 40% of its natural gas and 25% of its oil from Russia, whereas the U.S. gets meager amounts of oil and no natural gas. An EU boycott would mean higher prices at the pump and on utility bills.
In 1973, Arab countries imposed an oil embargo on the United States and some of its allies to retaliate against American support of Israel during the Yom Kippur War. Gas prices took off, leading to long lines. Many stations ran out of fuel, inflaming those still waiting in line.
Prices increased from 40 cents per gallon before the crisis to 50 cents. Federal officials imposed a maximum highway speed of 55 mph in an attempt to save consumption by the gas guzzlers of the day, many of which got only 15 miles per gallon.
In 1979, it happened again. After the Shah of Iran was deposed, the country cut oil production, and OPEC (Organization of Petroleum Exporting Countries) boosted prices. That summer, gas prices in Idaho topped $1 a gallon for the first time.
This story was originally published March 11, 2022 at 3:34 PM.
