Gas prices dropping across Idaho after the holiday season

Tuesday, January 9, 2024

The holiday season is over, and the temperatures are dropping and so are gas prices across Idaho.

According to AAA the state average for a gallon of regular gas is $3.12, which is 36 cents less than a month ago and 29 cents less than a year ago, and even cheaper in Twin Falls at $3.05.

AAA spokesman Matthew Conde said he expects Twin Falls and Idaho to hit three dollars a gallon on average as gas prices are expected to continue to fall after the holiday demand.

The national average currently sits at $3.08 per gallon, just four cents cheaper than Idaho’s average, which ranks 16th in the country for most expensive fuel.

Conde said as the coldest part of winter sets in people are even less likely to travel with dropping demand for gas.

“Demand before Christmas was 9.2 million barrels per day, 42 gallons to a barrel, and then after, the very next week, 8 million barrels,” said Conde. “So, 1.2 million barrels less just in a week which gives you a sense, obviously that spike we would expect, people traveling for the holiday season, and that all kind of comes to a close.”

Conde said they expect to see prices drop until the end of January or the beginning of February where they will hold steady until people start to travel more in the spring.

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