(The Center Square) – The average price for gas in Colorado is down 8 cents per gallon over the last week, according to the most recent data from AAA.
The state's average for a gallon of regular gas is $3.72, down from $3.80 one week ago. The national average is $3.78.
AAA analysts attribute the continued decline in gas prices to dipping oil prices, lessened demand domestically, and a so far “quiet” hurricane season.
“According to weather analysts, it’s the first time in 25 years that a named Atlantic storm did not develop in August. That’s the good news,” AAA spokesperson Andrew Gross said in a statement. “But we still have another month of peak hurricane season, and these storms can affect gas prices by disrupting oil production and refining.”
Colorado’s average gas price is creeping towards the state’s average from one year ago, which was $3.60 a gallon. The highest average AAA has recorded in the state was $4.92 on June 21, 2022.
As of Tuesday, the average gas price is $3.65 in Boulder, Colorado Springs, and Denver, according to AAA’s data. Grand Junction’s average is $3.76, while Pueblo’s is $3.46.