How Russia’s War Will Raise Our Gas Prices
When was the last time Idaho's fuel cost was below the national average? Despite Russia invading Ukraine, Idaho enjoys a much-needed reduction in gas prices. Most experts believe that all gas prices will rise because of the continued high cost of a barrel of oil. Remember when oil was a record low prices under President Trump?
AAA, in a news release, Idaho now ranks at the 20th most expensive state for gasoline. Idaho is usually one of the top five states in gasoline cost and rarely out of the top ten. The Gem State is barely under the national average. Idaho's price per gallon is $3.52, and the national average is $3.53.
Russia, a global supplier of oil, is now in a war with Ukraine. The cost of a barrel is expected to continue to rise. Some experts have predicted that oil could rise to $200.00 barrel. When will Idaho feel the impact of these rising costs of fuel?
Boise Gas Guzzlers
"With so much global uncertainty surrounding Russia and Ukraine, the price of crude oil remains incredibly high. Up to this point, we've been fortunate to avoid feeling the effects in our state," says AAA Idaho spokesman Matthew Conde. "If an armed conflict triggers another jump in crude prices, or if fuel demand starts coming back in the run-up to spring break, we could see the streak of stubborn gas prices here in Idaho come to an end."
Republican politicians have begun lobbying the president to reopen oil-producing wells that were shut down under his administration. The gas price cost would dramatically fall if American oil companies could bring back production. The president has refused to reconsider his energy program.
Here's a look at Idaho gas prices as of 2/21/22:
Boise - $3.57
Coeur d'Alene - $3.36
Franklin - $3.37
Idaho Falls - $3.40
Lewiston - $3.44
Pocatello - $3.48
Twin Falls - $3.62