Gas Prices in Colorado Drop Just in Time for Christmas Travel
As the holiday season approaches, Coloradans can rejoice in the falling gas prices that will make their Christmas travel more affordable.
According to GasBuddy's survey of 2,158 stations in Colorado, the average gasoline price in the state has decreased by 9.5 cents per gallon in the last week, now averaging at $2.68 per gallon. This represents a significant drop of 44.2 cents per gallon compared to a month ago and 14.7 cents per gallon compared to the previous year.
Additionally, the national average price of diesel has fallen by 9.2 cents per gallon in the last week, currently standing at $3.99 per gallon.
GasBuddy's price reports reveal that the cheapest station in Colorado was priced at an affordable $1.79 per gallon yesterday, while the most expensive station charged $4.69 per gallon, resulting in a significant difference of $2.90 per gallon.
On a national level, the average price of gasoline has also experienced a decline.
In the last week, it has dropped by 8.6 cents per gallon, averaging at $3.03 per gallon today. This national average reflects a decrease of 26.9 cents per gallon compared to a month ago and 6.8 cents per gallon compared to the previous year. GasBuddy's data, compiled from over 11 million weekly price reports covering more than 150,000 gas stations across the country, highlights this downward trend.
Patrick De Haan, the head of petroleum analysis at GasBuddy, expressed his optimism about the ongoing decline in gas prices.
De Haan said, "As the nation's average price of gasoline has fallen for the 13th straight week, we're on the cusp of potentially seeing a $2.99 per gallon average for the first time in years, most welcome just in time for the Christmas holiday.”
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Patrick De Haan went on to say that while the price of oil has rebounded from recent lows, motorists may still experience a favorable year ahead at the pump, with gasoline prices potentially falling below $3 per gallon this week.
The drop in diesel prices, which has recently fallen below $4 per gallon for the first time since July, is also encouraging news for the economy, as the price of diesel impacts various goods. Overall, fuel prices continue to show positive signs as we approach the end of 2023.