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Thursday, April 1, 2010

ID Gas Prices 6th Highest In US

A new survey by AAA shows that Idaho gas prices are about 16 cents higher than the national average price - and sixth highest in the country.

The price of regular unleaded gasoline statewide has risen 23 cents in the past month to $2.96 on Wednesday. Nationwide, the average price is $2.80, up just 9 cents in the same period.

AAA says two factors are behind the increase: optimism for an economic recovery in the U.S. and a weaker dollar. Analysts say higher oil and gas futures prices seem to reflect the positive market sentiment in consumer confidence and consumer spending, as well as more promising data from the Energy Information Administration that driver demand is improving.

But officials also say regional variances in gas prices contribute, pointing to refinery activity and efficiencies and the wholesale prices that retailers must pay for petroleum products.

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