Colorado gas prices hit two-year low according to AAA | PostIndependent.com

Colorado gas prices hit two-year low according to AAA

John Gardner
jgardner@postindependent.com
Glenwood Springs, CO Colorado

GLENWOOD SPRINGS, Colorado ” The good news continues for consumers filling up their gas tanks with gas prices dropping for a 17th consecutive week across the nation.

According to the American Automobile Association’s (AAA) weekly price report, Colorado has dipped below the national average of $2.20 per gallon of regular unleaded, to $2.17 per gallon for the first time in a month.

But, the interesting fact is that the last time Colorado saw an average price per gallon of $2.17 for regular unleaded was December of 2006.

“I had to double check that date, I couldn’t believe it had been that long since we’ve seen those prices,” said AAA Colorado spokeswoman, Wave Dreher.

In October, AAA projected that prices could drop as low as $2.25 per gallon by Christmas. To their, and several other’s, surprise those projections came a little earlier than expected.

“We’ve already hit that projection,” Dreher said.

But as to just how far AAA expects prices to drop, Dreher was unsure at this point.

“I have not seen anything as of how low (prices) could eventually end up,” Dreher said. “We will continue to see prices remaining down.”

The current prices are $.93 cents lower than the same week in 2007, $.04 cents lower than 2006, and $.22 cents lower than 2005.

MSNBC reported Wednesday that crude oil prices have dropped more than 60 percent over the past four months. Crude oil reached a high of $145.29 per barrel on July 3, and dropped to below $56 per gallon Wednesday.

A not so good sign for the weakening economy and the billion dollar oil industry investors, but it’s a good sign for motorists.

“There is no reason for people to rush out and fill up today,” Dreher said. “We expect these prices to be around for a while.”

Glenwood Springs regained the top spot in the state as the highest average price per gallon at $2.67, Wednesday. Vail held the honor the previous week, but dropped below Glenwood Wednesday reporting an average price of $2.65.

The AAA fuel report only lists nine Colorado cities from around the state with three or more gas stations to accurately get an average price per gallon.

Contact John Gardner: 384-9114

jgardner@postindependent.com


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