GasBuddy: Gas prices continue statewide decline over the past week

Average gasoline prices in Colorado have fallen 6.1 cents per gallon in the last week, averaging $3.45/gal Monday, according to GasBuddy’s survey of 2,158 stations in Colorado.

Prices in Colorado are 1.4 cents per gallon lower than a month ago and stand 53.8 cents per gallon lower than a year ago. The national average price of diesel has fallen 5.3 cents in the last week and stands at $4.07 per gallon.

According to GasBuddy price reports, the cheapest station in Colorado was priced at $2.65/gal Monday while the most expensive was $4.39/gal, a difference of $1.74/gal. The lowest price in the state was $2.65/gal while the highest was $4.39/gal, a difference of $1.74/gal.

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In the Aspen area, regular gas was listed at $4.79 at the Main Street station, $4.80at ABC, $5.09 in Snowmass Village, $4.09 in Woody Creek, and $4.49 at the Highway 82 turnoff to old Snowmass, according to AutoBlog.

The national average price of gasoline has fallen 6.3 cents per gallon in the last week, averaging $3.58/g today. The national average is up 8.2 cents per gallon from a month ago and stands 59.6 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

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Historical gasoline prices in Colorado and the national average going back 10 years:

• May 1, 2022: $3.99/gal (U.S. Average: $4.17/gal)
• May 1, 2021: $2.98/gal (U.S. Average: $2.89/gal)
• May 1, 2020: $1.77/gal (U.S. Average: $1.77/gal)
• May 1, 2019: $2.85/gal (U.S. Average: $2.89/gal)
• May 1, 2018: $2.71/gal (U.S. Average: $2.81/gal)
• May 1, 2017: $2.32/gal (U.S. Average: $2.37/gal)
• May 1, 2016: $2.11/gal (U.S. Average: $2.22/gal)
• May 1, 2015: $2.44/gal (U.S. Average: $2.60/gal)
• May 1, 2014: $3.50/gal (U.S. Average: $3.69/gal)
• May 1, 2013: $3.53/gal (U.S. Average: $3.53/gal)

“After declining the prior week at a slow pace, the drop in the national average has gained momentum. Oil prices have come under additional selling pressure alongside wholesale gasoline prices, giving retailers room to pass on the lower prices,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“Diesel prices have followed, falling to their lowest in over 13 months as demand remains weak due to concerns over the economy,” he said. “With refinery maintenance wrapping up, we should see supplies start to build in the weeks ahead, just in time for the summer driving season, potentially putting more downward pressure on prices.  However, while a majority of states saw gas prices drop, some, particularly in the Northeast, have yet to join in thanks to being the last to make the switch to summer gasoline — but relief will be on the way soon in areas that have resisted the fall thus far.”

GasBuddy’s survey updates 288 times every day from nearly 150,000 stations nationwide. See http://prices.GasBuddy.com