EXPERTS: Gas prices are up but not because of inflation

EL PASO COUNTY, Colo. (KRDO) - When many Americans are feeling a bind in their wallet it can be easy to point to inflation. However, travel experts with AAA say rising prices at the gas pump are prompted by something entirely outside of inflation.

On Thursday prices ranging from $2.77 to $3.13 could be spotted across Colorado Springs.

"It's the price point where most Coloradans tend to notice that prices are going up, especially when you consider that about a month ago, prices in Colorado Springs were $2.75. So it is undeniable prices are up a quarter," stated AAA travel expert, Skyler McKinley.

AAA says a 25-cent tick-up in prices is typical for this time of year.

"This is the time of year when we always see prices rise. That delta between January and February is usually a jump around a quarter in my experience, because slowly, gradually things thaw. Slowly, gradually we begin to see demand tick up," explained McKinley, "And at the same time, a lot of the refineries globally, but certainly in the United States, are shutting down for maintenance. So we've got slightly ticking up demand. We've got a falling supply that tends to move your price upward."

He says if you also look at this year's prices from a broader lens, they've been worse in the past.

"It's probably not fair to loop in gas prices with overall inflation, given the fact that in 2023, two years ago, we were paying $4.05 and nobody would consider $3.05 inflation over that amount," said McKinley.

AAA says even something as highly publicized as potential tariffs wouldn't impact prices for months.

"Let's say in early March tariffs go into effect as discussed. Even then I would say it's a month out before consumers start to see that at the pump," stated McKinley.

In Colorado Springs one woman filling up her tank said she feels good now but knows prices are bound to change. 

"I feel like that's just life sometimes gas is expensive, sometimes it's cheaper. it just kind of goes up, up and down," shared Colorado Springs local Michaela Wederquist.

AAA says they’re forecasting a slightly more expensive gas year in general and they recommend adjusting your gas budget accordingly.