Colorado drivers paid a premium for gasoline in early 2023 following the closure of the Suncor Refinery, but 2024 is welcoming them with some substantial discounts, including a handful of stations selling fuel for under $2 a gallon.
A gallon of regular unleaded gasoline in metro Denver averaged $2.55 a gallon on Wednesday, while the statewide average was $2.69 a gallon and the U.S. average was $3.08, .
Gas Buddy, a website that relies on consumers to report the latest prices, with sub-$2 prices as of Wednesday morning.
A Sinclar station at 7590 Pecos St. in unincorporated Adams County had the lowest price at $1.87 a gallon, followed by a Mobil station at 8755 E. Arapahoe Road in Greenwood Village at $1.88 a gallon, according to Gas Buddy.
Another Mobil station at 6515 S. Broadway was a penny more at $1.89 and appeared engaged in a price war with a nearby Exxon station at 6556 S. Broadway, which matched that price.
Besides the Mobil station, a QuickTrip at 7801 E. Arapahoe Road was charging $1.95 a gallon, while a Circle K at 7425 E. Arapahoe was charging $1.98 a gallon.
Those prices represent about a 25% discount from the metro-wide average and are below the discounted prices that typically can be found at the warehouses of Sam’s Club and Costco.
The average price per gallon remains above $3 in Vail, Durango, Glenwood Springs and Grand Junction. Greeley at $2.47 a gallon and Colorado Springs at $2.50 a gallon have the lowest prices of any metro area in the state.
Lower gasoline prices might have some staying power pans out. The EIA expects that Brent crude oil prices will stay close to their 2023 average of $82 a barrel, matching it this year and falling slightly to $79 a barrel in 2025.
“We expect that global supply and demand for petroleum liquids will be relatively balanced over the next two years,” the EIA wrote.
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