If you’ve pulled up to a gas station in the last week, you’ve probably noticed that fuel costs are going up. According to GasBuddy, prices in Colorado rose a little over six cents in the last week.
Gas prices as of Sunday, were 30-cents higher than they were this time last year. In fact, prices are almost 18-cents higher than just a month ago.
Regardless of the recent rise in prices, we’re still no where near what we were paying in 2013 and 2014, where the average price of gas hovered around the $3.55 a gallon mark.
Patrick Dehaan, head of petroleum analysis for GasBuddy says;
"The seasonal surge at gas pumps is in full motion, causing the most dreaded time of year for fearful motorists, especially of what may still be coming," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "With the national average gas price now at its highest since July 26, 2015, I can’t immediately allay all fears of a continued spike in gas prices, however, we’re likely in the closing innings of the seasonal rise- let’s just hope we don’t go to extra innings. In the past few years, the average date that gas prices have peaked is mid-May, which is just around the corner, and by all metrics, that could be very close to what we expect this time around. Refinery maintenance has gone well thus far, and gasoline supply has continued to push higher as more refiners conclude their work. With the transition to summer gasoline also wrapping up, the reasons gas prices to rise will shrink."
