Pocatello records sharpest weekly gas price drop in Idaho

Pocatello posted the largest single-week decline in gasoline prices across Idaho.

The average price in that city dropped by 22 cents to reach $4.61 per gallon. Statewide, the average price fell by 13 cents over the same period. AAA Idaho data shows current prices are down 33 cents from last month. However, drivers are still paying $1.27 more per gallon than they did a year ago.

Matthew Conde, the public affairs director for AAA Idaho, noted that the crude oil market faces intense pressure. He stated that conflict and uncertainty are driving up the price of a product that powers the global economy. Conde observed that while gas prices are falling right now, the rising cost of crude oil is impossible to ignore.

Prices vary widely across the state. Rexburg has the highest average at $4.78 per gallon. Boise and Twin Falls both average $4.71. Franklin and Idaho Falls are tied at $4.63. Coeur d'Alene is the cheapest at $4.37, followed by Lewiston at $4.40.

Market analysts suggest that the trend may be temporary. President Trump is currently considering military action against Iran. If conflicts in the Middle East and between Russia and Ukraine settle, the world could see a large drop in energy costs. The strategic oil reserve would also need to be refilled.