State gas prices continue to drop over past week

Average gasoline prices in Colorado have fallen 7.6 cents per gallon in the last week, averaging $3.29/gal Monday, according to GasBuddy’s survey of 2,158 stations in Colorado.

Prices in Colorado are 22.6 cents per gallon lower than a month ago and stand 79.3 cents per gallon lower than a year ago. The national average price of diesel has fallen 4.0 cents in the last week and stands at $3.97 per gallon.

According to GasBuddy price reports, the cheapest station in Colorado was priced at $2.69/gal Monday, while the most expensive was $4.49/gal, a difference of $1.80/gal. The lowest price in the state was $2.69/gal while the highest was $4.49/gal, a difference of $1.80/gal.

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In the Aspen area, regular gas was listed at $4.59 at the Main Street station,$4.67 at ABC, $4.89 (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 risen 0.4 cents per gallon in the last week, averaging $3.51/g Monday. The national average is down 14.9 cents per gallon from a month ago and stands 95.6 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 15, 2022: $4.08/gal (U.S. Average: $4.46/gal)
• May 15, 2021: $3.07/gal (U.S. Average: $3.04/gal)
• May 15, 2020: $1.79/gal (U.S. Average: $1.86/gal)
• May 15, 2019: $2.89/gal (U.S. Average: $2.86/gal)
• May 15, 2018: $2.82/gal (U.S. Average: $2.89/gal)
• May 15, 2017: $2.36/gal (U.S. Average: $2.33/gal)
• May 15, 2016: $2.14/gal (U.S. Average: $2.22/gal)
• May 15, 2015: $2.56/gal (U.S. Average: $2.70/gal)
• May 15, 2014: $3.45/gal (U.S. Average: $3.64/gal)
• May 15, 2013: $3.66/gal (U.S. Average: $3.59/gal)

“With oil prices bouncing back over $70 per barrel after reaching as low as $66 in early May, we’ve seen gasoline prices move higher in some states, while others have continued to decline- the national average has seen little change as a result, but overall, gasoline prices continue to see significant relief from year ago levels,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“We’re likely to soon see gasoline prices slip to their largest year on year deficit since COVID hit, when prices fell over $1 per gallon from 2019 — so the relief at the pump as been significant, and even though the gas price decline hit pause last week, it’s looking more likely that barring a major hurricane or series of refinery outages, the national average may not end up hitting the $4 per gallon mark — something that will make most motorists very happy. For those in Arizona that have seen gas prices spike during the spring, significant relief is starting and should even accelerate over the weeks ahead.”

“With oil prices bouncing back over $70 per barrel after reaching as low as $66 in early May, we’ve seen gasoline prices move higher in some states, while others have continued to decline- the national average has seen little change as a result, but overall, gasoline prices continue to see significant relief from year ago levels,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “We’re likely to soon see gasoline prices slip to their largest year on year deficit since Covid hit, when prices fell over $1 per gallon from 2019- so the relief at the pump as been significant, and even though the gas price decline hit pause last week, it’s looking more likely that barring a major hurricane or series of refinery outages, the national average may not end up hitting the $4 per gallon mark- something that will make most motorists very happy. For those in Arizona that have seen gas prices spike during the spring, significant relief is starting and should even accelerate over the weeks ahead.”

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