Growing gasoline inventories, lower driver demand and a rebounding dollar are pushing pump prices lower in the United States and Idaho. However, as the American Automobile Association’s Dave Carlson says, while prices are coming down, they’re not coming down at the same rate everywhere, including the Gem state.
AAA-Idaho’s Dave Carlson comments
Average gasoline prices across the state vary from a high of $3.67 in Twin Falls to a low of $3.25 in Coeur d’Alene – Lewiston’s average price is $3.28, while in Moscow motorists are paying an average of 12 cents more per gallon at $3.41.
Idaho gasoline prices have finally come down to national levels after having been as much as 28 cents per gallon higher in August. According to the American Automobile Association, Idaho’s current price for a gallon of regular unleaded gas is about $3.74, down about 7 cents from a week ago, while the national average price is now $3.73.
AAA-Idaho’s Dave Carlson says its unclear if the downward trend will continue especially in light of the fact that oil prices have been up an down as much as $25 per barrel this week alone.
AAA-Idaho’s Dave Carlson comments
While gasoline prices have come down nationwide, some storm-related supply problems have limited fuel availability in many areas in the south and southeast from Atlanta to Nashville.
The American Automobile Association says while damage assessments are not yet complete and some power outages are still being reported, the worst worries in Hurricane Ike’s impact on U.S. fuel supplies and prices may be over.
Dave Carlson with AAA Idaho says after spiking about 18 cents per gallon late last week, gasoline prices appear to be stabilizing.
AAA-Idaho’s Dave Carlson comments
The brunt of the price increases since last Friday have occurred in a swath of states served by Gulf Coast refineries in the south and southeast. However, the northwest seems to have weathered the price surge better than those regions served by distribution centers affected by the storm.
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An initial damage assessment of Gulf oil rigs indicates the loss of only 10 units out of approximately 4,000. Also helping to ease supply concerns is the expected arrival of an unusually large number of ships transporting gasoline from Europe to the U.S., along with the installation of generators to several pumping stations that feed fuel through the Colonial pipeline from Texas to points throughout the southeast region.
Higher fuel costs and a weak economy are two factors that the American Automobile Association says will keep more Americans from traveling over the Labor Day Holiday weekend this year. Triple-A Idaho’s Dave Carlson says its the first decline for the end of summer holiday in two years.
Dave Carlson, AAA-Idaho, comments
For those who do plan to get away this weekend Triple-A offers some advice to help ensure a safe and positive holiday.
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Other tips for a safe and more economical trip include: driving gently by avoiding excessive braking and rapid acceleration and motorists should avoid driving faster than the posted speed limit. For more information visit the Triple-A website at www.AAA.com .
Gasoline prices nationwide have dropped by an average of 33 cents in the past month, but Idaho levels remain near record highs.
AAA Idaho’s Dave Carlson says that the US average price for self-serve regular gas dropped to $3.78 a gallon this week, while Idaho’s is still $4.04 a gallon, the fifth-highest in the nation.
AAA Idaho’s Dave Carlson comments
Idaho isn’t alone, as other Northwest states are also holding at higher levels - Washington’s average price for a gallon of unleaded is $4.03, Montana $4.00 and Oregon $3.97.
Meanwhile, Carlson says the quiet, rapid switchover to ethanol-blended gas has Idahoans wondering where they can buy gasoline without the renewable fuel added. The EPA requires that 7.76 percent of gas products be blended with ethanol, and many stations have switched to a 10 percent blend, making it harder for motorists and recreationists to find-ethanol-free fill-ups.
For more information call Triple-A at 1-800-999-9391 or go online to www.aaaidaho.com.
The American Automobile Association reports the average U.S. price for regular grade gasoline has dropped six cents a gallon since late last week, to $4.06, a dime less than Idaho’s current price of $4.16. Oil prices fell another $3.79 a barrel this week to $127.50, some $20 lower than a record all-time high of $147 set July 11.
AAA-Idaho’s Dave Carlson says if the trend continues, the nation’s average pump price could drop below the $4 mark over the next week or so.
AAA-Idaho’s Dave Carlson comments
The gasoline futures market, which provides a bid price for the expected price of gasoline a month out, has also tumbled. Two weeks ago, the wholesale price for gasoline, less taxes and delivery pushed above $3.50. However, the recent drop in price has put the wholesale August delivery price in the $3.12 range. With gas taxes and delivery prices added, and without any near-term threats to supply, Carlson says that could mean gasoline prices could be in the $3.75 range next month.
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Idaho’s average price for a gallon of gasoline is currently $4.16 and has been above the $3.00 mark all year.
The American Automobile Association is predicting more than a half million fewer Americans will be traveling over the Independence Day holiday. Triple-A Idaho’s Dave Carlson says the combination of soaring fuel prices, a weak economy and higher related travel costs are the main reasons why the U.S. will experience the first year-over-year July 4th travel decline this decade.
Dave Carlson, AAA-Idaho, comments
Idahoans are also expected to stay closer to home and those who do travel will likely do so by motor vehicle.
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Of the 40.45 million Americans traveling this weekend, most, or 34.2 million intend to drive rather than fly.
As record-high fuel prices continue to stress household budgets, some motorists are going to new and sometimes dangerous lengths to cut costs. The American Automobile Association is particularly concerned about the increased number of drivers “hypermiling” in efforts to exceed a vehicle’s fuel efficiency. Triple-A Idaho’s Dave Carlson says while the goals of “hypermiling” are positive, motorists should refrain from unsafe and dangerous actions associated with the practice.
AAA-Idaho’s Dave Carlson comments
Other tips to achieve better fuel economy include having tires inflated to vehicle manufacturer specifications and also using manufacturer recommended motor oil based on climate.