IDAHO — The national average gas price per gallon as of Monday is about $4.06, more than 40-cents higher than just a week ago according to AAA. Idaho has seen much of the same with a quick spike in gas prices over the weekend.
In just one week, there's been a 53-cent increase per gallon here in the Treasure Valley alone according to AAA and prices are nearing the highest it's been in about 15 years. Officials say Idaho is heading in a direction that may even break old records.
“We’re already at $4.14 a gallon on average here in Boise. So it’s only a matter of time until some of those quieter parts of the state catch up,” AAA Idaho Public Affairs Director Matthew Conde said.
Clearwater, Custer and Gooding counties are still sitting under the $4 mark — for now. Idaho’s average price at the pump right now is about $3.96, but places like Ada County and Canyon county are averaging over $4 per gallon.
"We’re over the $4 mark on the national average," Conde said. "That's the first time since July of 2008, and we think that’s probably going to happen here by as early as tomorrow."
It’s unknown what the ceiling really is on rising gas prices as prices could continue to rise.
“We know that Russian supply may be taken out of the equation if a bunch of countries boycotts it. Well, where is that balance going to come from?” Conde said. “We’re already 15% lower as far as our domestic crude oil stocks than a year ago. So there are a lot of unanswered questions about how we fix the supply side issues in time to deal with the upcoming demand issues that are just around the corner.”
According to AAA, the average gas price in Idaho was $2.72 just one year ago. The highest recorded average price in Idaho for regular unleaded was $4.16 on July 19, 2008.
“As long as these conflicts continue, over between Russia and Ukraine, all of the jostling and sanctioning that’s going on, there's a lot of dominoes that have yet to fall and we just kind of have to hang on for the ride and make smart decisions on how we use our fuel in the meantime," Conde said.
To learn more about the gas prices, click here.