Post-holiday dip in demand could bring even cheaper fuel in coming weeks
Idaho drivers are happy to leave 2020 in the rearview mirror, but lower gas prices have been a welcome sight. According to AAA, the Gem State saw the 5th largest year-over-year price drop at 46 cents per gallon of regular gas. Regional neighbors Arizona, Utah, Wyoming, Colorado and Oregon also made the top ten list, with Arizona posting the biggest savings at 60 cents per gallon.
“After several years of increasing fuel demand, COVID-19 restrictions kept more people working, studying and playing closer to home last year,” says AAA Idaho spokesman Matthew Conde. “Now that year-end holiday travel is over, we could see demand dip even further, and if oil prices hold steady, that combination could lead to cheaper fill-ups in the coming weeks.”
Like their counterparts across the country, Idahoans saw gas prices plummet as stay-home orders were imposed and popular travel destinations closed in the spring. Then restrictions eased in the summer, and gas prices rallied. But Gem State drivers are paying much less than a year ago, and in the final days of 2020, Idaho’s price fell below the national average, where it remains today.