Gas prices in Colorado Springs climb
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Gas prices in Colorado Springs have surged $1.22 per gallon since December, catching up to the national average, with more increases expected amid geopolitical tensions and rising crude oil prices.
Why it matters: Spiking gas prices hit household budgets and can quickly influence consumer confidence about the broader economy.
Driving the news: Colorado Springs gas prices have jumped since the start of the year, and more upticks are expected following the U.S. and Israel's strikes on Iran and oil market fears of extended geopolitical upheaval.
By the numbers: The average gas price in the Colorado Springs area was $3.48 as of Monday, according to GasBuddy.
- That's up from $3.20 on March 1.
- A few Springs gas stations were still listing regular fuel for under $3 a gallon on GasBuddy.com as of midday Monday.
Yes, but: The city's rate remained just below the national average of $3.50 per gallon, which rose more than 50 cents in a week.
Threat level: Patrick De Haan — a widely cited gas price expert and an analyst for GasBuddy — estimates there's an 80% chance the national average gas price will hit $4 per gallon in the next month.
Flashback: Springs drivers had been enjoying gas prices cheaper than the national average going back to October 2024, according to GasBuddy.
Reality check: The record average national price of gas was $5.02 on June 14, 2022, as the world grappled with a bout of inflation and the effects of the Russia-Ukraine war.