Colo. Gas Prices Among Nation's Lowest

DENVER (April 18, 2024) - Colorado has the second-cheapest gas prices in the country with a statewide average of $3.16 per gallon of regular unleaded, fully 51 cents below the national average. Colorado gas prices are down from $3.58 this time last year and are up only ten cents on the month. 

At a national level, lackluster domestic demand for gasoline paired with decreasing oil prices led to the national average climbing just four cents on the week. Tensions in the Middle East sent crude oil into the upper $80s per barrel - though the West Texas Intermediate benchmark has since fallen into the low $80s as the oil markets watch for any further military action. 

In Colorado, meanwhile, prices reflect an anticipated softening of demand as ski travel comes to an end and the high country enters mud season ahead of spring and summer tourism. 

"Coloradans should make the most of comparatively low prices while they can," said Skyler McKinley, regional director of public affairs for AAA. "Looking ahead to a robust summer travel season combined with the long-expected, EPA-mandated switchover to reformulated gasoline, it won't be long until Colorado sits above the national average."

Quick Stats
The nation’s top 10 least expensive markets: Mississippi ($3.11), Colorado ($3.16), Louisiana ($3.18), Oklahoma ($3.22), Arkansas ($3.23), New Mexico ($3.26), Tennessee ($3.26), Kansas ($3.26), Alabama ($3.27), and South Carolina ($3.27).

The nation's top 10 most expensive markets: California ($5.45), Hawaii ($4.78), Washington ($4.67), Nevada ($4.63), Oregon ($4.44), Alaska ($4.37), Arizona ($4.13), Utah ($3.96), Illinois ($3.96), and Idaho, ($3.93).

Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI decreased by $2.67 to settle at $82.86. Oil prices dipped as the Energy Information Administration reported crude oil inventories increased by 2.7 million barrels from the previous week. At 460.0 million barrels, U.S. crude oil inventories are just 1% below the five-year average for this time of year. 

Colorado Gas By the Numbers (Low to High)

Boulder - Longmont
• Current Average: $3.08
• Yesterday Average: $3.05
• Week Ago Average: $3.00
• Month Ago Average: $3.00
• Year Ago Average: $3.53
• Highest Recorded Average: $4.92 (6/23/22)

Greeley
• Current Average: $3.09
• Yesterday Average: $3.05
• Week Ago Average: $3.00
• Month Ago Average: $3.00
• Year Ago Average: $3.51
• Highest Recorded Average: $4.86 (6/20/22)

Denver
• Current Average: $3.11
• Yesterday Average: $3.05
• Week Ago Average: $3.00
• Month Ago Average: $3.00
• Year Ago Average: $3.53
• Highest Recorded Average: $4.89 (6/21/22)

Colorado Springs
• Current Average: $3.12
• Yesterday Average: $3.07
• Week Ago Average: $2.99
• Month Ago Average: $2.96
• Year Ago Average: $3.53
• Highest Recorded Average: $4.95 (6/20/22)

Fort Collins - Loveland
• Current Average: $3.13
• Yesterday Average: $3.08
• Week Ago Average: $3.04
• Month Ago Average: $3.03
• Year Ago Average: $3.60
• Highest Recorded Average: $4.86 (6/20/22)

Grand Junction
• Current Average: $3.16
• Yesterday Average: $3.14
• Week Ago Average: $3.15
• Month Ago Average: $3.11
• Year Ago Average: $3.45
• Highest Recorded Average: $4.95 (6/29/22)

Pueblo
• Current Average: $3.18
• Yesterday Average: $3.13
• Week Ago Average: $3.12
• Month Ago Average: $3.10
• Year Ago Average: $3.59
• Highest Recorded Average: $4.96 (6/21/22)

Glenwood Springs
• Current Average: $3.40
• Yesterday Average: $3.36
• Week Ago Average: $3.39
• Month Ago Average: $3.39
• Year Ago Average: $3.81
• Highest Recorded Average: $5.07 (6/30/22)

Vail
• Current Average: $3.40
• Yesterday Average: $3.43
• Week Ago Average: $3.46
• Month Ago Average: $3.20
• Year Ago Average: $3.86
• Highest Recorded Average: $5.22 (7/4/22)

Durango
• Current Average: $3.48
• Yesterday Average: $3.48
• Week Ago Average: $3.47
• Month Ago Average: $3.31
• Year Ago Average: $4.07
• Highest Recorded Average: $5.06 (6/13/22)