Gas prices drop a couple of cents statewide

Staff report

Average gasoline prices in Colorado have fallen 2.3 cents per gallon in the last week, averaging $3.41/g, according to GasBuddy’s survey of 2,158 stations in Colorado.

Prices in Colorado are 2.8 cents per gallon higher than a month ago and stand 118.7 cents per gallon lower than a year ago. The national average price of diesel has fallen 3.4 cents in the last week and stands at $3.88 per gallon.

According to GasBuddy price reports, the cheapest station in Colorado was priced at $2.97/g yesterday.

In the Aspen area, regular gas was listed at $4.59 at the Main Street station, $4.99 at ABC, $5.19 (for full service) in Snowmass Village, $3.99 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 3.9 cents per gallon in the last week, averaging $3.51/g today. The national average is down 1.7 cents per gallon from a month ago and stands 134.5 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:

  • June 5, 2022: $4.60/g (U.S. Average: $4.85/g)
  • June 5, 2021: $3.20/g (U.S. Average: $3.05/g)
  • June 5, 2020: $2.19/g (U.S. Average: $2.01/g)
  • June 5, 2019: $2.92/g (U.S. Average: $2.78/g)
  • June 5, 2018: $2.95/g (U.S. Average: $2.94/g)
  • June 5, 2017: $2.39/g (U.S. Average: $2.37/g)
  • June 5, 2016: $2.25/g (U.S. Average: $2.36/g)
  • June 5, 2015: $2.61/g (U.S. Average: $2.76/g)
  • June 5, 2014: $3.46/g (U.S. Average: $3.66/g)
  • June 5, 2013: $3.76/g (U.S. Average: $3.62/g)

“While the national average drifted lower last week as oil prices cooled off, the drop may be temporary. OPEC+ agreed Sunday to additional production cuts, while Saudi Arabia is going above and beyond and cutting July production. As a result, oil prices are likely to see upward pressure as global supplies, which have remained tight, promise to become even tighter as a result,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“Last time OPEC+ agreed to cut production, it led to a temporarily rally in the price of oil; but as global oil demand hasn’t been as strong as expected, the cut failed to hold oil prices up. OPEC+ and Saudi Arabia are likely hoping that the rise in oil prices will stick longer this time, as the Saudi economy relies on oil prices north of $81 per barrel,” he said. “It’s likely that as a result of the production cut, oil prices could rally this week, pushing gasoline prices higher as early as mid-week. How long any rise in gas prices lasts is up in the air, but I do not yet believe motorists need to be worried. Any rise in average prices should be fairly small, and we’re still extremely unlikely to make a run at record prices anytime soon.”

GasBuddy’s survey updates 288 times every day from nearly 150,000 stations nationwide. See


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