COVID-19 Omicron variant dropping gas prices after Christmas – Lewis-Clark Valley community



DRINK – Despite rising gasoline demand as more than 109 million Americans, including 593,000 Idahoans, prepare for a vacation getaway, market uncertainty surrounding the COVID-19 omicron variant is dragging the price of crude oil and brought down gas prices in the run up to Christmas.

Today, the average Idaho price for regular is $ 3.61 a gallon, a penny less than a week ago, eight cents less than a month and 1, $ 39 more than a year ago. The national average currently stands at $ 3.30, two cents less than a week ago, 11 cents less than a month ago and $ 1.08 more than a year ago . Gem State ranks 8e in the country for the most expensive fuel.

Gasoline demand in the United States recently jumped to 9.5 million barrels per day – a 5% increase last week – with even more expected demand during the holidays. Crude oil inventories are 14% below last year’s levels. Normally, both factors would put upward pressure on gas prices. But uncertainty about future demand for crude has driven down its price, as well as prices at the pump.

“None of us are thrilled when we stop to refuel these days, but at least the lower prices allow more families to take vacations,” the spokesperson said. AAA Idaho, Matthew Conde. “Depending on the impact of the omicron variant, crude oil and gas prices could tilt until the end of the year.”

Here’s a seven-year retrospective of gas prices on Christmas Day:

The West Texas Intermediate crude oil benchmark is currently trading at nearly $ 70 per barrel, $ 7 less than a month ago and $ 22 more per barrel than a year ago.

AAA says the busiest times on the route will be December 22 and 23, and the busiest day at the airport will be December 23. Almost 28 million more people will travel this year than a year ago.

Here’s a look at other gas prices statewide: Boise – $ 3.71; Coeur d’Alene – $ 3.31; Franklin – $ 3.57; Idaho Falls – $ 3.50; Lewiston – $ 3.36; Pocatello – $ 3.65; Twin Falls – $ 3.71.



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