Middle East Tensions Send Idaho Gas Prices Soaring
Idaho's gas prices have jumped by 18 cents from last week to an average of $4.23 per gallon, according to AAA. The increase is linked to rising crude oil prices, which are now trading at nearly $88 a barrel due to ongoing tensions in the Middle East.
The conflict has disrupted global oil markets, with Houthi rebels attempting to block shipments from Saudi Arabia through the Bab al-Mandab Strait. While there's an alternative route available via the Mediterranean Sea, it could delay tankers by triple their normal times.
Idahoans are now paying a premium for gas compared to neighboring states, with prices 75 cents higher than last year and 13 cents above the national average of $4.10. AAA Idaho public affairs director Matthew Conde notes that the market remains unpredictable due to ongoing global conflict and the recent expiration of a memorandum of understanding between the US and Iran.
Idaho's price increase is not uniform across the state, with consumers in Boise paying an average of $4.22 per gallon, 7 cents more than those in eastern Idaho's Franklin, which sits at $4.15.