Gas prices drop 5 cents across state
Average gasoline prices in Colorado have fallen 5 cents per gallon in the last week, averaging $4.02/gal Monday, according to GasBuddy’s survey of 2,158 stations in Colorado.
Prices in Colorado are 25 cents per gallon higher than a month ago and stand 69.6 cents per gallon higher than a year ago. The national average price of diesel has fallen 7.7 cents in the last week and stands at $4.38 per gallon.
According to GasBuddy price reports, the cheapest station in Colorado was priced at $3.23/gal Monday, while the most expensive was $5.49/gal, a difference of $2.26/gal.
In the Aspen area, regular gas was listed at $5.59 at the Main Street station, $5.49 at ABC, $5.69 in Snowmass Village, $4.69 in Woody Creek, and $4.99 at the Highway 82 turnoff to old Snowmass, according to AutuBlog.
The national average price of gasoline has fallen 4.3 cents per gallon in the last week, averaging $3.33/gal Monday. The national average is down 17.6 cents per gallon from a month ago and stands 26.3 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.
Historical gasoline prices in Colorado and the national average going back 10 years:
- Feb. 27, 2022: $3.33/gal (U.S. Average: $3.59/gal)
- Feb. 27, 2021: $2.66/gal (U.S. Average: $2.72/gal)
- Feb. 27, 2020: $2.44/gal (U.S. Average: $2.44/gal)
- Feb. 27, 2019: $2.21/gal (U.S. Average: $2.42/gal)
- Feb. 27, 2018: $2.48/gal (U.S. Average: $2.53/gal)
- Feb. 27, 2017: $2.18/gal (U.S. Average: $2.29/gal)
- Feb. 27, 2016: $1.63/gal (U.S. Average: $1.74/gal)
- Feb. 27, 2015: $2.17/gal (U.S. Average: $2.37/gal)
- Feb. 27, 2014: $3.49/gal (U.S. Average: $3.43/gal)
- Feb. 27, 2013: $3.58/gal (U.S. Average: $3.79/gal)
“The national average has resumed its decline after a pause last week as oil and wholesale gasoline prices fell on worrisome inflation figures showing the Fed likely to ramp up rates to slow inflation,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“Some nine out of 10 states saw declines over the last week, so the drops are showing up for most across the country, with the exception of the West Coast as the transition to summer blends continues, and in the Great Lakes, where prices cycled last week but have now resumed declining,” he said. “For the weeks ahead, tradition tells us to expect prices to move up eventually, but that could be at least be partially offset by inflationary data that continues to be hotter than expected, leading to anxiety that the Fed will boost interest rates and cooling the economy and oil demand considerably.”
GasBuddy’s survey updates 288 times every day from nearly 150,000 stations nationwide. See http://prices.GasBuddy.com