With travelers in the midst of the Fourth of July weekend — and as a record 72.2 million Americans, including 426,000 Idahoans — estimated to be traveling, gas prices are continuing to drop.
According to AAA, Monday’s average price for a gallon of regular in the Gem State is $4.11, which is 13 cents less than a week ago and 54 cents less than a month ago, but 69 cents more than a year ago.
The national average currently sits at $3.86 per gallon, which is 7cents less than a week ago and 43 cents less than a month ago, but 67 cents more than a year ago. Idaho now ranks 10th in the nation for the most expensive fuel. This week, 47 of the 50 states saw pump prices fall.
“What Idaho drivers are paying is a far cry from the recent peak of $4.70 back in late April,” said AAA Idaho public affairs director Matthew Conde. “Crude oil prices have come down as the market shows guarded optimism about tensions in the Middle East. But the peace is fragile, as we just saw over the weekend. Any surge in the conflict can have a direct effect on oil and pump prices.”
Even so, AAA does not anticipate that gas prices will deter the record number of people projected to hit the roads and take to the skies. The worst days on the road will be Thursday and Sunday, so drivers are encouraged to get an early start to avoid some of the heavy traffic.
The West Texas Intermediate benchmark for crude oil is currently trading near $71 per barrel, which is about $3 less than a week ago, $16 less than a month ago, and $37 cheaper than the recent high of around $107 per barrel in late April. Monday’s price is about $6 higher than a year ago.
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