The average retail gasoline price in Denver on Sunday was $3.03, 19.4 cents a gallon lower than the same day one year ago and 39.5 cents a gallon lower than a month ago.
In Denver, gasoline prices fell 4.1 cents a gallon in the past week compared to the national average which fell 3.9 cents a gallon last week to $2.99.
In the past two weeks, the cost of a gallon of gasoline in Denver has fallen 9.6 cents compared to a national decrease of 7.6 gallons in the same period.
The national average has not declined below $3 a gallon since Dec. 22, 2010, said Patrick DeHaan, senior petroleum analyst with
He said prices could fall just a few more cents or even more depending on circumstances.
“We have two different scenarios for gas prices from here on – if oil prices hold their current $80 level, gas prices nationally may see their decline wind down, only dropping a few cents,” DeHaan said in a statement.
“But if oil prices can drop to $78 or less, we could see the national average decline for several more weeks,” he said.
DeHaan has noted that with the price declines Americans are “saving a staggering amount of money – almost $110 million a day -versus what they spent at the pump a year ago.”
DeHaan said that it’s hard to predict which way the market will go since oil prices have stopped declining in the past week.
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, hpankratz@denverpost.com or twitter.com/howardpankratz
