Colorado gas prices lower ahead of summer travel season
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Denver motorists are paying less for gas ahead of this weekend's summer travel kickoff.
By the numbers: The average price per gallon of regular gasoline is $3.27 as of May 1, a 21% decrease from the $4.14 gas a year ago.
- Denver prices are below the U.S. average of $3.53 per gallon, and down from a month ago, GasBuddy figures show.
- The state's average price is $3.33.
The big picture: Gas prices set record all-time highs last year amid a broader inflation crisis, and driven in part by Russia's invasion of Ukraine, which destabilized global energy markets.
- Nationally, gas prices are rising slightly compared to previous months — but they're still well below last year's levels as we head into Memorial Day weekend and the travel-heavy summer season.
- Prices are still well above pre- and mid-pandemic levels.
What they're saying: "Despite mild weather and a less volatile economic forecast, drivers are not hitting the road and raising gasoline demand to traditional seasonal levels," said AAA spokesperson Andrew Gross in a statement.
Yes, but: AAA and others are predicting a surge in summer travel in Colorado and near-record travel nationwide, which could spike demand — and thus lead to higher prices.
- "It's possible this is merely the lull before Memorial Day, but it could be a trend that lingers into summer," Gross said.