DENVER (AP) – The prices at the pump in Colorado are continuing their march toward $2 per gallon.
The state’s average gas price ticked up nearly a dime from last week to land at $1.88 per gallon, according to GasBuddy data released Monday. Metro Denver’s average rose 9 cents to $1.86 per gallon.
In Durango, gas prices ranged from a low of $1.78 at Peerless Tyre, 1990 Main Ave., and at Everyday, 799 College Drive, to a high of $1.89 at four separate Durango-area stations.
Colorado’s prices have jumped by more than 30 cents during the past month, a climb attributed to the switchover to the more expensive summer fuel blend, springtime refinery maintenance and higher crude costs.
Nationally, prices have gained 23.9 cents over the month to average at $1.93 per gallon.
“We’ve seen a pretty aggressive increase all across the country,” said Gregg Laskoski, GasBuddy senior petroleum analyst. “At the same time, that’s not inconsistent with what we anticipated.”
Considering the factors at play, there’s a very good chance that Colorado’s average could be above $2 per gallon in the next week to two weeks, he said.
While Colorado’s current average appears in stark contrast to the $1.50-per-gallon prices that graced pumps just one month ago, the state’s prices remain cheaper than in past years.
During the past five years, statewide average on March 14 has ranged from $2.20 per gallon in 2015 to $3.59 per gallon in 2014.
That bodes well for the busy summer travel season, Laskoski said.
“That’s the silver lining for consumers,” he said. “We still believe that, overall, the prices that we’ll see not only for the summer, but for the entire calendar year, will come in at a lower rate than what we paid in 2015.”
Last year, the national average for a gallon of regular gasoline was $2.41, he said. GasBuddy analysts are predicting the annual average for $2016 to be $2.28 per gallon.
