Instability in Iraq contributes to 10-cents-per-gallon gas hike in Colorado Springs
Iraq may be thousands of miles from Colorado Springs, but the recent turmoil in that war-ravaged country is affecting the pocketbooks of local drivers.
Average retail gasoline prices in Colorado Springs shot up 10.7 cents a gallon last week, averaging $3.54 on Sunday. That’s still 14 cents less than the national average, which rose to $3.68 a gallon, but a shock to the wallet nonetheless.
Earlier this year, officials at GasBuddy.com were predicting lower gas prices for the summer – but that was before two world crises emerged: one in Ukraine, the other in Iraq.
On June 16, Gregg Laskoski, a senior petroleum analyst for GasBuddy.com, said the situation in the Middle East had caused gasoline prices to jump significantly nationwide. He predicted that prices in Colorado might increase 10 cents a gallon last week, and wasn’t far off: Statewide prices increased 7.4 cents a gallon last week to $3.56. The national average edged up 2.7 cents during the same period to $3.68.
A similar survey by AAA showed Colorado Springs prices jumped 10.3 cents a gallon last week to $3.53, while the state average increased 9.2 cents a gallon to $3.59 and the national average went up 2.1 cents a gallon to $3.68.
Prices could climb even more. On Monday, Patrick DeHaan, another senior petroleum analyst for GasBuddy, said that in addition to the situation in Iraq, another concern has arisen – a possible increase in the federal gasoline tax. DeHaan said discussions by legislators to increase gas taxes, the looming hurricane season and continuing conflict in the Middle East could continue to push up gasoline prices this summer.






