Colorado Springs gas prices rise nearly 40 cents in one week

COLORADO SPRINGS, Colo. (KRDO) -- Gas prices continue to rise across Colorado, with the latest data from GasBuddy showing a nearly 40-cent increase in the Pikes Peak Area in a week.

According to GasBuddy's survey of 246 stations in Colorado Springs, the average gasoline prices rose 38.7 cents per gallon in the last week. That's 100 cents per gallon higher than a month ago and 36.5 cents per gallon higher than a year ago.

Data shows the cheapest station in Colorado Springs was priced at $2.93/g Sunday, Jan. 22 with the most expensive being $4.09/g, a difference of $1.16/g. The average price is $3.39/g.

The national average price of gasoline has risen 11.3 cents per gallon in the last week, averaging $3.39/g Monday.

Historical gasoline prices in Colorado Springs and the national average going back ten years:

• January 23, 2022: $3.30/g (U.S. Average: $3.32/g)
• January 23, 2021: $2.30/g (U.S. Average: $2.39/g)
• January 23, 2020: $2.54/g (U.S. Average: $2.54/g)
• January 23, 2019: $1.95/g (U.S. Average: $2.29/g)
• January 23, 2018: $2.37/g (U.S. Average: $2.55/g)
• January 23, 2017: $2.19/g (U.S. Average: $2.30/g)
• January 23, 2016: $1.69/g (U.S. Average: $1.83/g)
• January 23, 2015: $1.77/g (U.S. Average: $2.03/g)
• January 23, 2014: $3.15/g (U.S. Average: $3.28/g)
• January 23, 2013: $2.75/g (U.S. Average: $3.31/g)

"Gasoline prices continued their upward trajectory last week as oil prices pulled them higher across the majority of the country, and continued refinery challenges kept supply of gasoline from rising more substantially," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn't been slowed much by a surge in new Covid cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn't look good for motorists, with prices likely to continue accelerating."

Comparatively, GasBuddy reports gas prices in Colorado Springs are cheaper than in Denver and Colorado's overall average, which is $3.62/g.