Idaho Still 6th Most Expensive State for Gas Prices
In Idaho, we're used to being one the most expensive states to purchase gasoline. Last week, we were the sixth most expensive state in the country, but that was down from the week before.
This week, ten states saw gasoline price increases averaging ten cents or more per gallon, reports AAA in a recent release. Ohio, no, not The Ohio State Football Team, led the nation in gas prices by jumping fifteen cents from last week's cost per gallon.
Idaho's state gas prices are averaging around $3.72, which is a lot higher when the national average is $3.34 per gallon. Idaho's gas prices have dropped about a nickel from last month, but we still rank as the 6th most expensive state for gas.
"With the price of crude oil well above $80 per barrel, it's getting very expensive to fill up," says AAA Idaho public affairs director Matthew Conde. "We haven't taken a hit here like in other parts of the country, but the way things are going, it's only a matter of time before the other shoe drops."
Remember when oil prices were historically low? Those days appear to be over as oil is trading around $80 a barrel. Speculators continue to say that oil prices will continue to rise. The price of natural gas is so high that coal production has matched the 2014 levels of consumption.
The lowering of demand due to the end of summer has not lowered the price of gasoline due to the rise in prices. OPEC continues to raise prices by keeping production at a certain level artificially. They haven't offered to increase production, which would lower costs due to more available gasoline on the market.
Twin Falls has eclipsed Boise as Idaho's most expensive city for purchasing gas. We will continue to keep you informed on any information as the story develops.