AAA: Colorado among 10 least expensive gas markets

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Published Tuesday, May 24, 2022
by Robert Davis | The Center Square contributor

(The Center Square) - Colorado is among the 10 least expensive gas markets in the country, according to the American Automobile Association (AAA). 

The national average for a gallon of regular gas "has not fallen for nearly a month," AAA said, and it sits at $4.59 as of Monday. Colorado's average is at $4.14.

"Gasoline is $1.05 more than it was on February 24, when Russia invaded Ukraine," Andrew Gross, a spokesperson for AAA, said in a statement. "That sent shock waves through the oil market that have kept oil costs elevated. Domestically, meanwhile, seasonal gas demand is rising as more drivers hit the road, despite the pain they face paying at the pump."

Colorado's per gallon average currently makes it the fifth-least expensive gas market in the country, AAA said. The only states with lower averages than Colorado are Oklahoma, Kansas, Arkansas, and Minnesota, respectively. 

Still, Colorado's $4.14 per gallon is a record high for the state, according to AAA's data. That total is also $1.04 higher than it was in May 2021. 

One reason why gas prices keep climbing is that the per-barrel price of crude oil continues to climb. At the close of Friday's trading session, the price of crude oil reached $113.23 per barrel, which was more than $3 higher than it was the previous week. 

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