Colorado Springs gas prices dip under $2, expected to keep falling
COLORADO SPRINGS, Colo. (KRDO) -- Low gas prices have hit southern Colorado, and experts expect the price of gas to dip even further.
According to AAA Colorado, AAA’s average price of regular unleaded gas in Colorado Springs has dropped 42 cents since 2020 began.
On January 1st, the price of one unleaded gallon of gas averaged $2.65. Today, March 9th, the price sits at an average of $2.23 per gallon.
The image below reflects the five cheapest gas stations in Colorado Springs as of Sunday evening.
But gas prices fluctuate quickly. According to GasBuddy price reports, the cheapest station in Colorado Springs is priced at $1.93 per gallon at the time of publishing this article. Meanwhile, the most expensive is $2.69 per gallon -- a difference of 76 cents per gallon.
In just the past week, GasBuddy price reports claims Colorado Springs gas prices have fallen 7.6 cents per gallon in the past week and nearly 24 cents in the last month.
“It's excellent," said Eric Mederich, a Colorado Springs driver who recently moved from Chicago. In the Windy City, he claims he was regularly paying more than $3 per gallon for unleaded gas. "I can’t complain about a $1.99 for fuel.”
Drivers like Tristan Finley drove out of their way Monday to make sure they were getting the best deal on gas that they could.
"I drove five miles [out of the way.] Everywhere else is still $2.20 a gallon!" said Finley. "I might as well. Why not save 25 cents a gallon by coming a couple miles out of the way?”
AAA Colorado says low prices first stemmed from the coronavirus outbreak, discouraging folks from traveling.
Prices are expected to drop even further, with foreign oil producers like Saudi Arabia slashing price tags on their crude oil. Plus, demand is low and the supply is high.
Drivers in Colorado Springs can expect to see prices to drop well below the two dollar gallon mark.
However, it’s important to note gas prices normally tend to drop a bit this time of year during the months transitioning from winter to spring. According to AAA, this time last year the average price in Colorado Springs was $2.19 for a gallon of unleaded gas. This year it's similar at $2.23.
Gas prices tend to rise in the beginning of the summer months when folks travel more. However, AAA says that because the market is so volatile right now and because there are so many variables up in the air, it’s unclear what the market will look like come summer.
To find the latest and cheapest gas prices in Colorado Springs, see here.
