Why Gas Prices Dropping in Idaho Isn’t as Good as You Think
Gas prices have been a popular topic in the year 2022. Gas prices spiked to the highest they have ever been, and many across America have made adjustments. Many regions thought they would never see gas go above five dollars in their lifetime, and it not only surpassed that but did so by a significant amount. Gas has slowly been coming back down, and while customers are excited to see the price decrease, it still has a long way to go before it lowers back down to pre-spike prices. The prices coming down is a good sign, but before you get too excited, it may not be as good as it seems.
Lowering Gas Prices, May Not Last
While gas prices are coming down, and many of us are feeling relieved and willing to possibly take a road trip now, the odds of gas prices going back up are favorable. Currently, the cost of crude oil is still above $90 a barrel, it would not be surprising to see prices begin to rise again. Also, any change in the market could send prices up again such as a change in the demand for gas, or any kind of disruption in the supply. As we have seen in the last few years, nothing should surprise us when it comes to supply and demand. One work stoppage and gas prices will skyrocket to new heights once more.
The Cost of Gas in Idaho and Across America
While the cost has noticeably been coming down over the last few weeks, many have noticed certain areas to be more than others. The average gas price across the state of Idaho is currently, $4.91. For those that haven't been paying attention, this is a 34-cent drop over the last month. The average in Twin is still a little higher than the rest of the state at $4.94. The national average currently sits at $4.21 per gallon, and it may shock some to learn that Idaho has the seventh highest gas prices on average in the United States, with California having the highest. For those wondering, the cheapest in the country is Texas.
Many Americans have admitted to making changes due to the high gas prices, such as driving less, going only from work to home, doing all errands in one trip instead of multiples, and eating out less. With uncertainty ahead of if the prices will go back up, it is smart to continue practicing these changes, and not get too comfortable yet. As prices seem to decline, be patient and see what the market does before deciding to make a big purchase, take that elaborate vacation, or decide to buy a car that gets less per gallon than what you currently drive. Enjoy the lowering costs, but remain weary until proven otherwise.