Four Dollars a Gallon: Twin Falls, Idaho Over a Barrel
The pain isn’t going away anytime soon. In real dollar terms, the cost of gasoline has only been higher once before. During the summer of 2008, when it may have also contributed in some part to the “Great Recession” that followed.
Up well over 30 cents a gallon over the course of one month and up well over $1.30 year-over-year.
In a matter of days Idaho could be seeing prices on average for unleaded regular over four dollars a gallon. AAA of Oregon and Idaho has a calculator on its website. You can compare prices by state and also against the national average. As I write this, Idaho’s average is $3.79.5. Up half a penny from the day before. Up well over 30 cents a gallon over the course of one month and up well over $1.30 year-over-year.
I drive a mid-size car. My last fill up cost me just under $50 and I’m already making plans to curtail driving habits (and I only average 7,000 miles a year). Such as combining errands with a goal of cutting down trips.
Nationally, driving isn’t down much even with the increase at the pumps. Some theorize Americans have a pent up desire to travel after last summer’s pandemic.
By the way, the last time I wrote about rising prices, someone said I was likely to blame it on President Biden. In the same story I discussed how oil is sold not only on futures contracts for the short term but decisions are also made on long range bets. The throttling of the Keystone XL pipeline didn’t help matters.
Let me also address my accuser. If Trump happened to be President how would media cover this story? A rhetorical question. Every night the old alphabet TV networks would have crews at gas stations. Where they would talk about the pain being inflicted on hard working American motorists. There would be calls for Mr. Trump to pursue alternative energy more quickly and on a grand scale. He would be called an apologist for Saudi Arabia and every soundbite would be some poor soul begging the President for relief. So, let Joe Biden share in the experience!