Colorado’s average retail gas prices are up more than 12 cents per gallon this week. But those pump prices are still about 45 cents per gallon lower than one year ago.
The average price for a gallon of gas in Colorado was $1.78 cents Sunday, according to GasBuddy.com.
"Although crude oil production fell to the lowest since November 2014, inventory remains high," said Will Speer, a senior petroleum analyst with GasBuddy. "The oversupply will provide a ceiling for gas prices for the next couple of months.”
The average price one year ago was $2.24 cents a gallon. And it was only two years ago that gas was selling at an average of $3.57 cents a gallon in Colorado.