May 6, 2026 - News
Colorado Springs gas prices keep pace with national rise
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We've had it slightly better than the rest of the nation at the pump ... until now.
Why it matters: Increasing fuel costs squeeze household budgets.
- And higher oil prices can discourage summer travel plans.
Prices are at or near their highest level since mid-2022, when the national average was about $5 per gallon after Russia's invasion of Ukraine.
The big picture: An oil shock driven by the Iran war is pushing prices higher. While the U.S. appears more insulated than Europe or Asia — for now — from outright shortages, consumers are still feeling the pinch.
What we're watching: An end to the Iran war could eventually ease prices.
- Some politicians have floated the idea of a "gas holiday," cutting the federal gas tax to shave 18.3 cents a gallon off the cost.