Demand Up But Gas Prices Down As Idaho Enters Summer

Jun 13, 2017

Despite record demand for fuel, gas prices ahead of the summer driving season are the lowest they've been in year.
Credit MPCA Photos / Flickr

With summer just around the corner, peak motoring time is almost here and demand for gas is at record highs.

During the last full week of May, drivers nationwide used a collective 413 million gallons of fuel per day. Despite the record high demand for gas that week, Cars.com attributes an ample supply of crude oil and high output from refineries as a buffer against rising costs, so much so we’re entering the summer with prices the lowest they’ve been in over a decade.

Matthew Conde of AAA Idaho says we’re currently in a post-Memorial Day fuel lull, but he points to the big spike before the holiday as something of a signpost alerting his and other organizations to pay close attention to gas prices.

According to AAA, gas prices in Idaho are some of the priciest in the country. Nationally, a gallon of regular is going for about $2.32; in Idaho, the price at the pump for unleaded is just north of $2.60. While prices are up across the West, gas is downright affordable in the South. The cheapest fuel in the country is in South Carolina with an average price of $2.00.

Following a brutal winter that kept many indoors and close to home, Conde tells the Idaho Press Tribune he expects Idahoans to be restless. With lots of people hitting the road, Conde thinks the rise in motorists could translate to a rise in fuel prices. However, Idaho prices are still well below record highs set in 2008 when gas was over $4.00. A rise into that territory appears unlikely. Refineries are producing a lot of fuel and also storing plenty to keep inventory high.

For more local news, follow the KBSX newsroom on Twitter @KBSX915

Copyright 2017 Boise State Public Radio

Tags: