Jake Putnam photoGas Prices Down Again
Boise--Gas prices continue to drop with some of the biggest price cuts coming in the past week according to AAA Idaho.
The free-falling prices averaged $2.87 per gallon around Boise on Monday, a far cry from the $4 per gallon motorists suffered through this summer. At some stations in town, the price per gallon fell below the $2.80 mark, and even lower at Costco, Albertson's and Fred Meyer grocery stores that offer discounted gas for their shoppers. That's a modest saving compared to $2.66 gas in Coeur D'Alene on Tuesday.
AAA Idaho spokesman Dave Carlson says its a nationwide phenomenon with Pump prices across the country tumbling. "They've taken a nosedive to reflect the falling cost of oil, already down $30 from Oct. 1 with prices around $63 a barrel." In July, oil was selling for around $147 a barrel.The gas price free fall could continue, sinking to the low $2-dollar mark, Carlson said.
Although the news is a breath of fresh air for drivers, economists says its a dire reflection of economic hard times around the world, saying supply and demand issues are driving fuel costs.
Economists point out that when business is down, the industrial sector uses less gasoline to manufacture and transport raw goods and services. Also motorists were having problems dealing with $3.00 gas and drastically cut back their use of gasoline.
Although Idaho gas prices have dropped dramatically Idaho is just the 22nd lowest nationally according to the AAA. Coeur d'Alene's $2.57 average is 36 cents lower than the state average and one penny more than Lewiston's, which is the lowest in the state, according to Carlson.
Boise--Gas prices continue to drop with some of the biggest price cuts coming in the past week according to AAA Idaho.
The free-falling prices averaged $2.87 per gallon around Boise on Monday, a far cry from the $4 per gallon motorists suffered through this summer. At some stations in town, the price per gallon fell below the $2.80 mark, and even lower at Costco, Albertson's and Fred Meyer grocery stores that offer discounted gas for their shoppers. That's a modest saving compared to $2.66 gas in Coeur D'Alene on Tuesday.
AAA Idaho spokesman Dave Carlson says its a nationwide phenomenon with Pump prices across the country tumbling. "They've taken a nosedive to reflect the falling cost of oil, already down $30 from Oct. 1 with prices around $63 a barrel." In July, oil was selling for around $147 a barrel.The gas price free fall could continue, sinking to the low $2-dollar mark, Carlson said.
Although the news is a breath of fresh air for drivers, economists says its a dire reflection of economic hard times around the world, saying supply and demand issues are driving fuel costs.
Economists point out that when business is down, the industrial sector uses less gasoline to manufacture and transport raw goods and services. Also motorists were having problems dealing with $3.00 gas and drastically cut back their use of gasoline.
Although Idaho gas prices have dropped dramatically Idaho is just the 22nd lowest nationally according to the AAA. Coeur d'Alene's $2.57 average is 36 cents lower than the state average and one penny more than Lewiston's, which is the lowest in the state, according to Carlson.
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