Wednesday, April 6, 2011

Business Briefs

Gas prices continue ascent

Significant uncertainty involving continued unrest in the Middle East and North Africa and the aftermath of the Japanese earthquake and tsunami are impacting world oil prices and gas prices throughout the U.S., AAA Idaho said.

Based on its Daily Fuel Gauge Report (, AAA reported that Idaho's average price for regular grade gasoline today is $3.51, up 3 cents in the past week. The U.S. average price is $3.62, up 6 cents during the same time period.

Oil prices closed at $106.72 for West Texas intermediate crude on Thursday, about a dollar higher than a week ago. At least some of the increase in higher U.S. pump prices is associated with the annual draw down of gasoline stocks as traders continue to clear out inventories of winter-blend gasoline in preparation for the mandated switch to the more expensive summer blends.

But it appears the market continues to be largely driven by speculative dollars entering due to the increased uncertainty in future supply and demand for oil.

Idaho's average price has risen 61 cents since Jan. 1. The U.S. average price is up 55 cents during that same time.

D.L. Evans Bank helps Special Olympics

D.L. Evans Bank, which has several branches in south-central Idaho, has donated $5,000 to Special Olympics Idaho. According to a news release from the bank, the donation will help support both the Winter and Summer games.

Meridian Branch Manager Tonya Smith serves on the board of directors for the Special Olympics and volunteers for its events.

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