Are Boise Gas Prices Going to Be Dropping in 2024?

As Boise locals bid farewell to 2023 and usher in the new year 2024 with festive celebrations, we're greeted with an unexpected surprise of lower gas prices, and maybe to stay throughout the the year?

The first week of 2024 has seen a noteworthy decline in gas prices across the state of Idaho, and especially in the Boise/Treasure Valley area with an average drop of about 7 cents per gallon. This comes as a pleasant surprise to local residents who have grappled with escalating fuel costs over the past year.

As reported by KTVB, "The cheapest gas in Boise on Monday was priced at $2.99 per gallon while the most expensive gas was priced at $3.39 per gallon, a difference of 40 cents."

They go on to report that throughout the country, "the average price of gas fell roughly 2 cents per gallon in the last week, marking the average at $3.06 per gallon. That price is 17 cents less than a month ago, and just over 12 cents less than a year ago."

Political observers are quick to draw connections between this sudden drop in gas prices and the fact that 2024 is an election year. Historically, election years often witness politicians implementing measures to alleviate financial burdens on citizens, and reducing gas prices proves to be a popular move to win over voters.

As Boise residents adjust to the post-holiday routine, the lower gas prices bring a positive start to the year, potentially providing a financial relief for many. However, as with any fluctuation in fuel prices, the situation remains dynamic and subject to various economic and geopolitical factors. Locals should keep an eye on the prices at the pump, but for now, they can enjoy the promising drop in gas prices as they navigate the beginning of 2024.