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Gas prices in Colorado continue to rise

COLORADO SPRINGS, Colo. (KRDO) -- Gas prices in some parts of Colorado are the highest we have seen in almost a year according to AAA Colorado.

The average gas price in the state as of Monday, is $4.05 for one gallon of regular unleaded.

But that figure jumps a good chunk of change when looking at specific areas like in Pueblo: the average price there for one gallon of regular unleaded is $4.17. Comparing that figure with the daily average price in Colorado Springs, $3.97.

According to a spokesperson for AAA Colorado, gas prices typically start going up right around Memorial Day Weekend and remain the highest price out of the entire year until Labor Day due to refineries switching out the winter blend of gasoline to the summer blend.

But unlike last year, there was not as large of a demand due to many people still being homebound because of COVID.

“Folks are traveling again in a vaccinated environment, that increases demand," Skyler McKinley with AAA Colorado said. "At the same time, there was really limited supply because production shut down during COVID.”

Another reason fueling the markups this time around is international conflicts.

“Russia invaded Ukraine, and Russia accounts for about 12 percent of all global energy exports…” McKinley explained.

Experts anticipate the Russian invasion of Ukraine will only continue to hike prices at the pump up even further.

While an extra 10 to 20 cents tacked on the current prices at the pump is not an exorbitant amount for some, high poverty areas like Pueblo are already feeling the impacts.

McKinley explains Pueblo, along with other areas across the state, fluctuates in gas prices compared to nearby cities such as Colorado Springs.

“Pueblo has much more expensive gas than Colorado Springs, right now it is 20 cents more expensive," he said "Relative to Denver, relative to Colorado Springs, there is a lot less competition because of fewer service stations.”

McKinley mentions another potential impact because of the increase in gas prices is inflation with goods from any industry that ships products. The markups are to help off-set the transportation costs.

Article Topic Follows: News
Colorado Springs
gas
local news
Pueblo

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Cindy Centofanti

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