Idaho’s gas prices have been higher than the national average since the first week in September, and they still are but there is some relief in sight. The price at the pump is in free fall mode and that is giving Idaho drivers something to cheer about.
“For the most part, low demand and high inventories have helped push pump prices lower,” says AAA Idaho spokesman Dave Carlson. But that wasn’t the case in Idaho for the past several months where retail prices trailed market indicators, including lower oil prices and weaker demand. Another exception is the East Coast, currently, where supplies are increasing but remain somewhat tight following the disruption following Hurricane Sandy.
Idaho’s average price today is $3.39, down 33 cents from a month ago. That’s still six cents higher than the national $3.33 average which has dropped 11 cents in that same period. A year ago, Idaho’s average price was $3.30, and the U.S. mark was $3.28.
Dave Carlson says the declining prices are coming at the perfect time for Idaho families.
“Lower prices are providing positive relief for Idaho motorists who were paying as much as $3.88 on average in September and who are now looking for ways to manage their holiday budgets,” Carlson said.