BOISE, Idaho — Summer is just around the corner and as more people plan to travel, the price at the pump continues to rise in Idaho and across the U.S.
AAA says Idaho drivers are already feeling the pain at the pump, and it's going to get worse. They say rising crude oil prices could be a sign of even more expensive fill-ups to come.
The price of crude oil currently sits at $69 per barrel, the highest in the last 2 ½ years. Crude oil makes up half the price of finished gasoline, and if the trend of higher crude prices continues, AAA says gas prices will likely follow.
"Now that COVID-19 vaccines are widely available and travel restrictions have eased substantially, many Americans are setting out on a long-awaited summer road trip. To some extent, that feeling of optimism has made its way up the supply chain to crude oil prices," said AAA Idaho spokesman Matthew Conde. "We believe that the market will remain confident for the foreseeable future, but additional supply may come online to help keep demand in check."
The Organization of the Petroleum Exporting Countries (OPEC) announced last week that member nations will continue to gradually increase crude oil production in July. If they do, crude oil prices could stabilize or even decrease, helping motorists in the process.
As of Monday, June 7, the average price for a gallon of regular gas in Idaho is $3.28 per gallon. That's three cents more than a week ago and 11 cents more than a month ago.
Meanwhile, the national average sits at $3.05 per gallon, which is a penny more than a week ago and 10 cents more than a month ago.
For the week, the Gem State saw the 7th-highest price jump in the U.S.
"Fuel demand may ease up for the next couple of weeks, but it could be back with a vengeance as we get closer to the 4th of July weekend," Conde said. "In a year characterized by the concept of "revenge travel," we don't expect current prices to change many minds about taking a vacation. Most people will adjust their budget in other ways to make a trip possible."
Here's a selection of Idaho gas prices as of June 7:
Boise - $3.41
Coeur d'Alene - $3.07
Franklin - $3.35
Idaho Falls - $3.10
Lewiston - $3.09
Pocatello - $3.26
Twin Falls - $3.23
Watch more Local News:
See the latest news from around the Treasure Valley and the Gem State in our YouTube playlist: