Colorado’s trek toward sub-$2 per gallon gasoline continued this past week, with prices falling 6 cents to $2.28 per gallon.
weekly benchmark data showed that prices in Colorado were cheaper than the national average of $2.26 per gallon.
“The gasoline price environment remains vastly improved versus a year ago: just 13.4 percent of nation’s gas stations are selling at over $2.50 per gallon today, while a year ago, 100 percent of stations were over that mark,” Patrick DeHaan, GasBuddy senior petroleum analyst, said in a statement. “Nearly a quarter of the nation’s gasoline stations are currently selling under $2 per gallon, and that number will likely grow in the months ahead as refiners continue to finish maintenance and resume producing gasoline at a time when demand is low, contributing downward pressure to gasoline prices.”
Prices in Denver, where the average is $2.24 per gallon, are down 90.8 cents from this time last year.
West Texas Intermediate crude is trading around $46 per barrel. Last week, that states which overestimated oil price forecasts could have tax revenues below expectations.
Colorado’s forecasts were the highest among the oil patch states, projecting West Texas Intermediate crude to land at $50 a barrel this year and $68 per barrel next year.
Alicia Wallace: 303-954-1939, awallace@denverpost.com or @aliciawallace
