Colorado Springs gas price average enters third month of decline

COLORADO SPRINGS, Colo (KRDO) -- The average price for a gallon of gas in Colorado Springs declined once again this week, following a national trend.

According to GasBuddy, Average gasoline prices in Colorado Springs have fallen 8.6 cents per gallon in the last week, averaging $2.66/g today. Prices in Colorado Springs are 47.2 cents per gallon lower than a month ago and stand 16.0 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Colorado Springs was priced at $2.28/g yesterday while the most expensive was $3.39/g, a difference of $1.11/g. The lowest price in the state yesterday was $1.93/g while the highest was $4.69/g, a difference of $2.76/g.

According to GasBuddy, the national average price of gasoline has fallen 9.6 cents per gallon in the last week, averaging $3.11/g today. The national average is down 23.7 cents per gallon from a month ago and stands 10.1 cents per gallon lower than a year ago.

"For the 12th straight week, or three straight months, the national average has continued to decline, now at its lowest level of 2023 heading into the prime of the holiday season as oil prices continue to struggle amidst cooling demand. With nearly 80,000 gas stations in the U.S. now priced below $3 per gallon, and 23 states also seeing average prices of $2.99 or less, motorists are getting substantial relief at the pump in time for the holidays. The trend is likely to continue in most states this week, while the national average could soon fall below $3.05 per gallon, the lowest since 2021. The good news may continue into 2024, with GasBuddy's annual Fuel Outlook being released in just a few weeks."

Patrick De Haan, Head of Petroleum Analysis at GasBuddy