Gas prices still sliding |

Gas prices still sliding

Staff report

Average gasoline prices in Colorado have fallen 5.1 cents per gallon in the last week, averaging $2.78/gal Monday, according to GasBuddy’s survey of 2,158 stations in Colorado.

Prices in Colorado are 43.0 cents per gallon lower than a month ago and stand 49.1 cents per gallon lower than a year ago. The national average price of diesel has fallen 8.6 cents in the last week and stands at $4.68 per gallon.

According to GasBuddy price reports, the cheapest station in Colorado was priced at $1.99/gal Monday while the most expensive was $4.39/gal, a difference of $2.40/gal. The lowest price in the state yesterday was $1.99/gal while the highest was $4.39/gal, a difference of $2.40/gal.

The national average price of gasoline has fallen 4.9 cents per gallon in the last week, averaging $3.05/gal today. The national average is down 50.2 cents per gallon from a month ago and stands 20.3 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:

  • Dec. 26, 2021: $3.27/gal (U.S. Average: $3.25/gal)
  • Dec. 26, 2020: $2.28/gal (U.S. Average: $2.25/gal)
  • Dec. 26, 2019: $2.75/gal (U.S. Average: $2.54/gal)
  • Dec. 26, 2018: $2.41/gal (U.S. Average: $2.30/gal)
  • Dec. 26, 2017: $2.49/gal (U.S. Average: $2.44/gal)
  • Dec. 26, 2016: $2.15/gal (U.S. Average: $2.28/gal)
  • Dec. 26, 2015: $1.85/gal (U.S. Average: $2.00/gal)
  • Dec. 26, 2014: $2.22/gal (U.S. Average: $2.30/gal)
  • Dec. 26, 2013: $3.06/gal (U.S. Average: $3.26/gal)
  • Dec. 26, 2012: $3.03/gal (U.S. Average: $3.23/gal)

“While the national average declined for the seventh straight week, with oil prices rallying, it remains to be seen if we will manage another week of gasoline price declines. We’re still waiting for the national average to fall below $3 per gallon, something that is suddenly a bit less likely given the extreme cold weather, interrupting refining operations in the south, curbing gasoline production and potentially driving prices up slightly,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“While some of the nation’s lowest priced gas stations will probably be forced to raise prices slightly, with some declines still happening in the West Coast, there remains a chance, albeit smaller one, that we could still see the national average fall below $3 per gallon,” he said. “With the New Year on the doorstep, however, the biggest question motorists have remains what will happen in 2023 – a question GasBuddy’s annual Fuel Outlook will answer later this week.”