Middle East Tensions Send Gas Prices Soaring in Idaho
Gas prices in Idaho have risen sharply due to escalating tensions in the Middle East. The conflict has disrupted global oil markets, causing crude oil prices to spike by nearly $10 per barrel since last week. As a result, Idahoans are paying an average of $4.23 per gallon for gas, up 75 cents from a year ago and 13 cents more than the national average.
The situation in the Middle East has added pressure to the global market, which was already facing challenges due to the end of the memorandum of understanding between the US and Iran that briefly calmed the crude oil market. This uncertainty is expected to lead to higher prices at the pump in the short term, according to Matthew Conde, public affairs director for AAA Idaho.
Idaho's gas prices are now among the highest in the country, with only 11 other states having more expensive fuel. Washington state has the third most expensive gas prices, averaging $5.09 per gallon.