The prices at the pumps are back on the rise.
Gas prices in Denver and across Colorado experienced their “inevitable” increases during the past week and jumped by more than 12 cents per gallon, according to GasBuddy.com data released Monday.
The average costs for a gallon of unleaded in Denver increased by 13.6 cents to $1.63. Colorado’s average rose 12.3 cents per gallon to $1.65.
“This is the market pricing in that premium for the more expensive summer blend,” said Will Speer, a GasBuddy senior petroleum analyst.
Refineries are transitioning to the production of , which has a lower volatility to prevent excessive evaporation at higher temperatures.
Nationally, prices increased 3.7 cents per gallon to $1.74 per gallon, GasBuddy reported.
The national average has increased for six consecutive days, AAA officials said Monday. Prices are rising at the , according to AAA’s Daily Fuel Gauge Report.
Colorado’s gas prices earlier this month, with average prices settling in around $1.50 per gallon. Those prices not only because of the switch in fuel blends, but also because refineries — with hefty supplies of the cheap, winter-blend fuel — were expected to curtail production, GasBuddy analysts said at the time.
Refinery utilization is fairly healthy at this point, Speer said Monday. If any production cuts are made, Colorado’s prices could see some additional increases in the coming weeks, he added.
The pick-up in crude prices during the past week also could play a role.
“If there’s some further strengthening in the price of crude, that could trickle into what you’re paying at the pump,” he said.
Light, sweet crude futures for April delivery were trading at $33.25 per barrel on the New York Mercantile Exchange.
Alicia Wallace: 303-954-1939, awallace@denverpost.com or @aliciawallace
