Gas prices are making the summer road trip more expensive in Colorado
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Fueling up for a summer road trip in Colorado will cost you more than the national average.
By the numbers: The cost of a gallon of gas in Denver increased every month since May and sat at $3.92 on average as of Aug. 1, per GasBuddy.
- That's higher than the nationwide average of $3.76, but essentially flat compared to August 2022.
Why it matters: America is a nation of car travelers, with the average person driving nearly 13,500 miles per year, Axios' Alex Fitzpatrick and Kavya Beheraj report.
- Thus, higher gas prices take a bigger toll on our wallets — and contribute to overall inflation.
Of note: In Colorado, AAA estimated that 8 in 10 residents planned to take a road trip this summer.
- ICYMI: We recently profiled three fun destinations.
Between the lines: Gas prices can also influence how quickly people convert to low- or zero-emissions cars — a major Biden administration policy goal.
- Still, how much you'll actually save by going electric can vary significantly based on your local gas and electricity rates, among other factors.
The big picture: Nationwide, average gas prices are up a bit from winter months — as expected based on historical patterns — but lower than last year's highs of nearly $5.
The intrigue: Gas prices ticked up in recent weeks due to excessive heat in Gulf states like Texas and Louisiana, where many of the country's oil refineries are located.
- "Refineries, which turn crude oil into products like gasoline, don't function as efficiently in 100+ degree weather," Axios' Emily Peck reports.