Gas prices continue downward slide

  • Gas prices continue downward slide

Gas prices continue downward slide

Our weekly check of gasoline prices indicates local prices have increased slightly again this week.

According to GasBuddy price reports, the cheapest station in Colorado is priced at $2.02/g today while the most expensive is $3.99/g, a difference of $1.97/g.

Gas prices are at least four cents cheaper across the Great Lakes and Central States, except in MI which is the only state in the country to see gas prices more expensive on the week.

Energy Information Administration (EIA) data show that regional gasoline stocks dipped by almost 300,000 barrels.

Gas prices continue to drop across the country and region.

The average national gas price dropped by four cents to $2.47, which is 11 cents less than the beginning of the year.

According to AAA, "Gas prices are pushing cheaper for two reasons".

Crude oil prices that are $10 lower per barrel than one month ago and USA gasoline stocks at a record high are driving prices at the pump down, a AAA spokeswoman said. Pump prices are expected to decrease this week, as winter demand remains low amid the current stock level.

Motorists in at least a dozen states can find gas for less than $2/gallon. Monday's state average is 7 cents less than a week ago, 14 cent less than last month, and 16 cents more than this time past year. Marketwatchers are concerned that the mysterious virus could lead to even less global fuel demand.