If you drive an automobile, it’s probably not news to you that gas in Idaho is relatively cheap right now.
But Idaho’s average price of $2.03 a gallon is still the eighth-highest in the country, and it’s 17 cents higher than a year ago, according to AAA Idaho.
The U.S. average price for gasoline has been $2 or less for almost a month straight and now sits at $1.83. It could fall to its lowest in six years due to low winter demand and decreasing crude-oil prices, the group said.
The highest pump prices currently are California at $2.65, Hawaii at $2.63, Alaska at $2.44, Nevada at $2.33, Washington at $2.22 and both New York and Oregon at $2.09.
“Global oversupply, weak seasonal demand and the anticipation that even more oil will enter the marketplace — via the lifting of sanctions on Iran — are feeding a ‘lower-for-longer’ sentiment among speculators,” AAA Idaho spokesman Dave Carlson said in a news release. “We assumed the bottom of the gas price slide would have occurred by now, but the market may need sharp adjustments in supply to bring the crude oil market more into balance.”
Here, Carlson explains why the Gem State’s gas prices are among the nation’s highest:
Average Jan. 27 price for unleaded