DENVER (CBS4) – New analysis from AAA says the price of gas is the lowest it’s been since June. It’s the second week in which demand and gasoline supply have dropped.
Colorado’s statewide average for a gallon of regular unleaded gasoline is $2.33, down from $2.6 a year go at this time. The national average sits at $2.19, down 37 cents from the same time in 2019.
“In a typical year, lower supply levels translate into higher pump prices. Despite consistent declines in gasoline stocks, though, that’s just not happening right now,” said Skyler McKinley, director of public affairs for AAA Colorado. “Even amid a steady supply dip, the sustained decrease in demand helped push national gas prices cheaper on the week.”
Oil experts are now watching Hurricane Sally as it moves into the Gulf of Mexico. Some offshort platforms have shutdown ahead of the storm, however AAA says a national impact should be minimal.