Average retail gasoline prices in Denver have risen 5.1 cents per gallon in the past week, averaging $3.08 cents a gallon on Sunday, according to the website .
This compares with the national average that has increased 11.3 cents per gallon in the last week to $3.64 a gallon.
Including the change in gas prices during the past week, prices Sunday were 5.1 cents per gallon lower than the same day one year ago and are 15.4 cents per gallon higher than a month ago.
The national average has increased 26.6 cents per gallon during the last month and stands 29.8 cents per gallon higher than this day one year ago.
Gregg Laskoski, senior petroleum analyst for , said that 2012 is looking increasingly like 2008.
“Gasoline prices are climbing aggressively as speculation drives crude oil higher; and, once again, it’s an election year. But this time its the volatility in the Middle East that has everyone wondering ‘how high is up’,” said Laskoski.
In its forecast for 2012, noted that gasoline levels are lower than they’ve been in the past two years, partially because of an improving economy and higher exports. However, gasoline levels are still above the five year average, and considerably higher than they were to end 2005-2007, the report said.
“In our analysis, we expect demand may experience another drop this year, as gasoline prices remain elevated, and the economy continues to grown at a slow pace.”
However, the report continued that destabilization of Iran, and perhaps other parts of the Middle East will make a strong impact on gasoline prices.
GasBuddy operates and more than 250 similar websites that track gasoline prices at more than 140,000 gasoline stations in the United States and Canada.
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com
