Colorado gas prices finally fall below $4

Gas prices in the Rockies are anticipated to drop a little more, but the national average is...
Gas prices in the Rockies are anticipated to drop a little more, but the national average is expected to trickle back upwards.(Live 5/File)
Published: Aug. 15, 2022 at 12:15 PM MDT
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GRAND JUNCTION, Colo. (KJCT) - Gasoline prices in Colorado have been dropping for several weeks now, and may continue to drop throughout the Rockies areas.

In the last week, Colorado gas prices have dropped 17.2 cents per gallon, averaging at $3.96 today, according to GasBuddy’s survey of 2,158 gas stations across Colorado. Prices have reached over 80 cents per gallon lower than a month ago, and less than 30 cents higher than a year ago.

The U.S. average cost of gasoline has dropped 9.9 cents in the last week, resting at $3.92 today. In the last month the national average has dropped 63.7 cents and stands 74.8 cents per gallon higher than a year ago.

The national average cost of diesel fuel has gone down almost 15 cents in the last week and sits at an average of $5.27 per gallon.

According to GasBuddy reports, the cheapest gas station in Colorado was sitting at $2.89 per gallon and the most expensive was at $5.19 per gallon.

Looking back at Colorado gasoline prices in the last ten years, the last time gas was reported this high was in 2021, where the state average was $3.67. Right behind was in 2014, where the state average was $3.66. In the same comparison of the last ten years, prices across the U.S. last reached this high in 2012, when they averaged $3.71.

“For the ninth week straight, gas prices have continued to fall, but the streak is at great risk of being broken this week with wholesale gasoline prices having bounced back up some 40 cents per gallon as oil prices have rebounded,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “That means the decline in average prices could wrap up soon, with some price increases possible as early as this week, especially in areas of the Great Lakes. While the West Coast and some areas of the Rockies may see prices continue to drift lower, I do believe the national average could tick higher this week as the better than expected jobs report last week likely means less demand destruction than anticipated.”

GasBuddy data updates 288 times every day and collects data from nearly 150,000 gas stations nationwide.

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