Gas prices drop below $3 per gallon in Colorado Springs following an expensive summer
Colorado Springs motorists have likely noticed that filling up their vehicles is currently less painful than during the summer as gas prices dip below $3 per gallon at many service stations and convenience stores around the city for the first time in months.
According to GasBuddy, the online service that tracks gas prices nationwide, the average price of a gallon of regular unleaded gasoline was $3.02 on Tuesday, down more than 34 cents from last month’s average of $3.37 per gallon.
Skyler McKinley of AAA Colorado said the falling prices are largely a result of reduced economic activity as the seasons shift.
“Folks use gas as a function of participating in the economy. They drive to work. They go on vacation. They drive to restaurants and bars and around the state.
“This is the time of year where we see a contraction in economic activity. Kids are back to school, the days are getting shorter, folks aren’t going on vacation. And while in Colorado, and in much of the country, it has been an unseasonably warm summer, we are starting to see lower temps and cooler nights.”
Those factors lead to a diminished demand for gasoline, which, when combined with a steady supply, leads to reduced gas prices, McKinley said.
Areas along the Interstate 70 corridor, including Garfield and Pitkin counties, will still see higher gas prices, but population centers like Denver, Pueblo and Colorado Springs should see continued relief at the pump in the coming months.
“That’s good news for Colorado’s working families,” McKinley said.
The Thanksgiving and Christmas seasons typically bring an uptick in gas prices because of increased travel, but those tend to level out, he said.
Unforeseen events, in the U.S. and abroad, could result in more expensive gasoline, according to McKinley.
“It’s no secret that it’s been a bad hurricane season,” he said. “Most of the storms have veered toward Florida and have not affected our refining capacity on the Texas coastline. A bad storm in Texas could drive prices up.”
Additionally, a growing conflict between Israel and Iran could have consequences at the pump.
If the Mideast gets into a larger regional war, “it could shift the oil markets because we ship so much oil through the Straits of Hormuz, which would be affected by an armed conflict,” he said.
Gas prices should remain steady, or continue to fall, regardless of who wins the presidential election in two weeks, McKinley said.
“Gas gets politicized because it’s part of the economy, and the economy is politicized,” he said. “No president can pull a lever and lower gas prices. If they could, wouldn’t every President do that?
“There are some questions ahead, but for now, we can enjoy falling prices.”






