Gas prices drop double digits in past week
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Average gasoline prices in Colorado have fallen 13.2 cents per gallon in the last week, averaging $3.74/gal today, according to GasBuddy’s survey of 2,158 stations in Colorado.
Prices in Colorado are 32.9 cents per gallon lower than a month ago and stand 18.7 cents per gallon lower than a year ago. The national average price of diesel has fallen 5.6 cents in the last week and stands at $4.25 per gallon.
According to GasBuddy price reports, the cheapest station in Colorado was priced at $2.17/gal Monday while the most expensive was $4.99/gal, a difference of $2.82/gal. The lowest price in the state yesterday was $2.17/gal while the highest was $4.99/gal, a difference of $2.82/gal.
In the Aspen area, regular gas was listed at $5.09 at the Main Street station, $4.53 at ABC, $5.49 in Snowmass Village, $4.49 in Woody Creek, and $4.39 at the Highway 82 turnoff to old Snowmass, according to AutuBlog.
The national average price of gasoline has fallen 4.2 cents per gallon in the last week, averaging $3.40/gal Monday. The national average is up 4.3 cents per gallon from a month ago and stands 82.9 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:
- March 20, 2022: $3.93/gal (U.S. Average: $4.23/gal)
- March 20, 2021: $2.93/gal (U.S. Average: $2.88/gal)
- March 20, 2020: $2.16/gal (U.S. Average: $2.11/gal)
- March 20, 2019: $2.44/gal (U.S. Average: $2.60/gal)
- March 20, 2018: $2.47/gal (U.S. Average: $2.56/gal)
- March 20, 2017: $2.17/gal (U.S. Average: $2.29/gal)
- March 20, 2016: $1.94/gal (U.S. Average: $1.98/gal)
- March 20, 2015: $2.21/gal (U.S. Average: $2.43/gal)
- March 20, 2014: $3.59/gal (U.S. Average: $3.53/gal)
- March 20, 2013: $3.56/gal (U.S. Average: $3.70/gal)
“The broad concern over recent failures of the U.S. and global banking system has put enough downward pressure on oil prices that we saw a reprieve in rising gasoline prices in the national average last week. But, it may be temporary in nature, and is unlikely to be a long lasting trend,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“While California and areas of the West Coast saw some moderation in price, supply challenges amidst the transition to summer gasoline have led to sharp price increases in Arizona, and other markets saw varying impacts at the gas pump over the last week,” he said. “Should the outlook for the banking sector improve, we could again see gasoline prices race higher, while continued or additional distress could raise the possibility of a broader economic slowdown, keeping gasoline prices in check. Overall, there are a lot of possibilities.”
GasBuddy’s survey updates 288 times every day from nearly 150,000 stations nationwide. See http://prices.GasBuddy.com
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