Plunging crude oil prices caused the average cost of a retail gallon of gasoline in Denver to sink to $2.93 on Sunday, according to .
Prices in Denver were 20.5 cents a gallon lower than the same day one year ago and are 26.1 cents a gallon lower than a month ago.
Analysts see a continuing downward trend in gasoline prices in the coming weeks.
Patrick DeHaan, senior petroleum analyst for GasBuddy, said last week that gas in Denver should remain below $3 a gallon through the holidays.
On Monday, DeHaan said the dip could extend for even a longer period.
“Suddenly, the market turned bearish again and crude dropped as low as $74 a barrel before closing the week out at a $2 a barrel loss,” said DeHaan in a statement.
The national average saw a softer moderation in prices, falling 1.7 cents a gallon last week to a national average of $2.89 a gallon.
The national average has decreased 25.5 cents a gallon during the last month and is 29.8 cents a gallon lower than a year ago.
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
