Gas prices in Denver and across Colorado have crept up during the past week, but the increases aren’t expected to be long-lasting, fuel analysts say.
Denver’s average price for a gallon of unleaded rose 4 cents to $1.83, as of Sunday benchmark. The statewide average climbed 2.3 cents to $1.88 per gallon.
Nationally, prices fell 1.6 cents to $1.99 per gallon.
The recent increases at the pump in Colorado represent a correction that can be attributed to prices falling faster locally than those at the source of the gasoline, said Will Speer, GasBuddy senior petroleum analyst.
“Retail gasoline prices had been falling in the Denver area since the middle of August,” he said. “In the last couple weeks, prices were falling more rapidly than parts of Texas where a large portion of Colorado’s gasoline supply is sourced.”
The increases in Colorado are expected to be short-lived, Speer said, noting further declines in crude.
Brent crude oil toppled to an 11-year low on Monday, hitting $36.05 a barrel.
Alicia Wallace: 303-954-1939, awallace@denverpost.com or @aliciawallace
